FSS investigates insider trading

The Financial Supervisory Service has embarked on investigating some experts in mergers and acquisitions suspected of insider trading.

An FSS official said Saturday that the FSS was intensively probing suspected behavior of some so-called M&A experts disturbing the financial market. He said that FSS had established a standing watchdog organ against the alleged insider trading by such M&A experts.

Subject to the FSS investigation are some of M&A experts who accumulated big personal assets through the M&As. They will be investigated about whether they committed illegal behavior in the process of their asset accumulation, their investment in the stakes of other corporations or their attempts in M&A of financial institutions, the official said.

¡°We will thoroughly investigate the suspected experts in a bid to block in advance ill effects of such illegal practices that might have on the financial market,¡± he said. ¡°The so-called M&A experts, who are mostly company executives, cunningly escaped the legal system in the course of arranging M&As, thus disturbing the financial market. ¡°Although they do not violate current laws, the ill effects they cause on the financial market are enormous.¡±