Securities Industry Challenges 1.6 Trillion Won Fine
The Korea Financial Investment Association has stepped forward to support the securities industry’s administrative lawsuits, claiming that the Fair Trade Commission’s sanctions against the Treasury bond bidding collusion are excessive. Consequently, as the likelihood of the sanctioned securities fir
The Korea Financial Investment Association is advocating for the securities industry against the Fair Trade Commission's recent 1.6 trillion won fine imposed on 15 companies for alleged Treasury bond bidding collusion. The association contends that the sanctions are overly harsh and could undermine the essential role of primary dealers in Treasury bond underwriting and market liquidity.
The association fears the fines, which could reach hundreds of billions of won per company, may disrupt the smooth issuance of Treasury bonds, potentially harming South Korea's external credibility. The sanctioned firms plan to file administrative lawsuits in response to the penalties. The industry awaits the final written decision, which could take about a month, with the likelihood of a coordinated response by the association and the fined firms.
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