Stock investors who are found guilty of manipulating share prices and, as a result, make a market profit of more than W5 billion will face a maximum penalty of life imprisonment, starting from the end of this month.
The Financial Supervisory Commission, the state financial watchdog, made the announcement Sunday, adding that the new regulation accounted for stronger punitive measures against those who are involved in share price rigging.
In detail, the new law stipulates that investors who have made more than W5 billion in illicit profits through stock price manipulation and insider information will face life imprisonment at the maximum or a five-year prison term at the minimum.
The bill also sets forth that a prison term of less than three years will be handed down to those who post a market profit between W500 million and less than W5 billion through the same illegal dealings.
(Hwang Soon-hyun, icarus at chosun.com)