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| Financial Services Commission (FSC) headquarters in central Seoul / Yonhap |
By Anna J. Park
The Financial Services Commission (FSC) aims to strengthen its capital market investigation functions, with the goal of eradicating securities crimes in the country.
The nation's top financial regulator announced Monday that it has newly created two units devoted to capital market investigations, while abolishing one incumbent unit that's been working on investigative tasks.
"With both the number of participants and the size of the local capital market having been broadly expanded, crimes related with securities have become much more complicated. The FSC has realized it needs more than a single unit to address the situation effectively," the FSC explained as its reason for restructuring and strengthening investigative tasks.
The two new units will take charge of various roles related to capital market investigations, ranging from investigating unfair transactions, false disclosures and the omission of key facts, to the adjustment of investigations and external relations of investigative tasks.
The FSC vowed to root out securities crimes and raise the local capital market's credibility and fairness through the unit restructuring.
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