Democratic Social gathering of Korea lawmaker Park Yong-jin tabled an modification to the Monetary Funding Companies and Capital Markets Act early this month in order that securities corporations entrusted with brief promoting should set up computerized brief promoting programs and the Monetary Companies Fee should act as a supervisor.
One other modification to the act for monitoring system institution for unlawful brief promoting prevention not too long ago foundered. In keeping with the newest modification, non-use of the computerized system is topic to punishment.
Securities corporations are objecting to the modification, claiming that it’s an extreme demand for them to be accountable within the occasion of unlawful brief promoting. “Any illegality associated to brief promoting have to be the accountability of the entity that does it as an alternative of a trustee,” one among them stated.