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Court Rules Samsung Securities Must Cover Half of Investors’ Damages in 2018 Dividend Error

Court Rules Samsung Securities Must Cover Half of Investors’ Damages in 2018 Dividend Error

SEOUL, Sept. 26 (Korea Bizwire) — A Seoul district court has ruled Samsung Securities Co. must compensate investors for half of their damages incurred due to a 2018 dividend error by an accidental stock issuance, judicial sources said Sunday. The Seoul Central District Court recently ruled partially in favor of three investors who filed damages [...]

Appellate Court Upholds Conviction of Ex-Samsung Securities Employees in ‘Ghost’ Stock Case

Appellate Court Upholds Conviction of Ex-Samsung Securities Employees in ‘Ghost’ Stock Case

SEOUL, Aug. 13 (Korea Bizwire) — An appellate court on Thursday upheld a lower court’s conviction of eight former employees of Samsung Securities Co. indicted for selling “ghost” stocks mistakenly paid to them as dividends in 2018. The Seoul Southern District Court’s appellate division affirmed suspended prison sentences ranging from one to 1 1/2 years [...]

Samsung Securities Ordered to Partially Halt Operations for 6 Months Over ‘Fat-Finger’ Fiasco

Samsung Securities Ordered to Partially Halt Operations for 6 Months Over ‘Fat-Finger’ Fiasco

SEOUL, Jul. 26 (Korea Bizwire) — The financial regulator on Thursday ordered Samsung Securities Co. to suspend part of its operations for six months as punishment for the brokerage’s “fat-finger” error that sparked a massive public uproar. Samsung Securities will be banned from offering its services to new investors for six months from Friday, the [...]

8 Samsung Securities Officials to Stand Trial over Stock Blunder

8 Samsung Securities Officials to Stand Trial over Stock Blunder

SEOUL, Jul. 9 (Korea Bizwire) — Eight Samsung Securities officials have been indicted for selling “ghost” stocks that were mistakenly issued by the company in the massive fat-finger error that recently rattled the market, prosecutors said Monday. Three employees, including a 37-year-old surnamed Koo, will stand trial while being detained, with five others from the [...]

Samsung Securities Fined for ‘Fat-Finger’ Fiasco

Samsung Securities Fined for ‘Fat-Finger’ Fiasco

SEOUL, Jul. 4 (Korea Bizwire) — South Korea’s financial regulator said Wednesday that it approved the slapping of 144 million won (US$129,148) in fines on Samsung Securities Co. over its massive “fat-finger” error. Read More: Samsung Securities to Pay Huge Price for Its Fat-finger Error Holding a regular meeting earlier in the day, the Securities and [...]

Samsung Securities to Pay Huge Price for Its Fat-finger Error

Samsung Securities to Pay Huge Price for Its Fat-finger Error

SEJONG, June 23 (Korea Bizwire) — The financial watchdog’s punishment against Samsung Securities Co. over its fat-finger error will not make a financial dent, but it could weaken its market position in the long run, experts said Saturday. On Thursday, the Financial Supervisory Service (FSS) decided to recommend that Samsung Securities should face a six-month [...]

Samsung Securities Predicts New Era of Peace

Samsung Securities Predicts New Era of Peace

SEOUL, Jun. 14 (Korea Bizwire) — Samsung Securities forecasts that a new era of “CVIP” will begin in the Korean Peninsula. CVIP is an acronym for Complete, Verifiable, Irreversible Peace, a slight play on CVID (Complete, Verifiable, Irreversible Dismantlement), a stance that the United Stated insisted upon of North Korea’s nuclear program before going into [...]

Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

SEOUL, May 24 (Korea Bizwire) — Prosecutors said Thursday they launched an investigation into officials of Samsung Securities Co. over the massive dividend error in April that jolted the local financial market. The Seoul Southern District Prosecutors’ Office said a probe has begun based on the complaint filed by the Financial Supervisory Service early this [...]

Regulator Extends Samsung Securities Probe Over Dividend Chaos

Regulator Extends Samsung Securities Probe Over Dividend Chaos

SEOUL, April 16 (Korea Bizwire) – The Financial Supervisory Service (FSS) said Monday it has extended its inspection into Samsung Securities over brokerage’s “fat-finger” dividend chaos that shocked the country. The inspection had been completed on Thursday but has been stretched out to April 27 to “figure out special details” of the dividend error, the FSS said in a statement. [...]