Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
9
Job creation lowest on record among under-30s
-
10
Opposition chief acquitted of instigating perjury
The nation’s main bourse on Thursday issued a warning to Hanyang Securities for engaging in irregular trading of financial derivatives products.
The brokerage unit of Hanyang University sought to hamper other investors’ profits through the trading of KOSPI200 option products by issuing an excessive amount of “sell” orders at a certain price, according to the Korea Exchange.
Exchange officials said the biggest victims in the aftermath of the firms’ practice were small investors. As Hanyang took a large proportion of products, the other market participants ― individuals particularly ― ended up with smaller portions of the pie.
“Such a tricky practice by listed companies deteriorates fair market competition. We will not tolerate this sort of trading undermining retail investors,” said an official.
“We will demand stricter inner control over the management system, and impose stronger sanctions on our listed members who neglect them,” he said.
Hanyang Securities was established in 1956 as a subsidiary of Hanyang University, a private institution located in northeast Seoul. Transparency and excellent corporate governance are two of the brokerage’s five management principles.
(joowonc@heraldcorp.com)
The brokerage unit of Hanyang University sought to hamper other investors’ profits through the trading of KOSPI200 option products by issuing an excessive amount of “sell” orders at a certain price, according to the Korea Exchange.
Exchange officials said the biggest victims in the aftermath of the firms’ practice were small investors. As Hanyang took a large proportion of products, the other market participants ― individuals particularly ― ended up with smaller portions of the pie.
“Such a tricky practice by listed companies deteriorates fair market competition. We will not tolerate this sort of trading undermining retail investors,” said an official.
“We will demand stricter inner control over the management system, and impose stronger sanctions on our listed members who neglect them,” he said.
Hanyang Securities was established in 1956 as a subsidiary of Hanyang University, a private institution located in northeast Seoul. Transparency and excellent corporate governance are two of the brokerage’s five management principles.
(joowonc@heraldcorp.com)
