South Korea’s Regulator Wants Samsung Securities to Suspend Operations

[kreslik.news]

South Korea’s Financial Supervisory Service (FSS) has urged Samsung Securities, the brokerage arm of the country’s largest conglomerate, to suspend some of its operations for six months amid a probe into a massive stock issuance error.

The financial regulator also asked Samsung Securities and other brokerages to strengthen their internal controls amid surging concerns over compliance protocols following one of the world’s largest “fat-finger” errors.

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In South Korea, listed companies usually voluntarily suspend trading. The FSS rarely issues suspension orders unless it deems it necessary to protect the interest of investors. ... (read more)