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Toward Integrative Securities Market Manipulation Regulation in Korea : = Why Does Korean Regulation Rely Heavily on Criminal Enforcement? Should It Change? Theory, Evidence, and Recommendations.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Toward Integrative Securities Market Manipulation Regulation in Korea :/
Reminder of title:	Why Does Korean Regulation Rely Heavily on Criminal Enforcement? Should It Change? Theory, Evidence, and Recommendations.
Author:	Jung, Youchull.
Description:	1 online resource (223 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-04, Section: A.
Contained By:	Dissertations Abstracts International84-04A.
Subject:	Law. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29322801click for full text (PQDT)
ISBN:	9798351429946

Toward Integrative Securities Market Manipulation Regulation in Korea : = Why Does Korean Regulation Rely Heavily on Criminal Enforcement? Should It Change? Theory, Evidence, and Recommendations.
Jung, Youchull.

Toward Integrative Securities Market Manipulation Regulation in Korea :Why Does Korean Regulation Rely Heavily on Criminal Enforcement? Should It Change? Theory, Evidence, and Recommendations. - 1 online resource (223 pages)

Source: Dissertations Abstracts International, Volume: 84-04, Section: A.

Thesis (Ph.D.)--University of Minnesota, 2022.

Includes bibliographical references

Although the securities market in Korea has developed rapidly since 1950 after the Korean war, the Korean securities market regulation to prevent market manipulation began in earnest with the enactment of the Financial Investment Services and Capital Markets Act of Korea in the 2000s, although the market in Korea has developed rapidly since 1950 after the Korean war. The Securities laws and regulations of Korea are very similar to that of the U.S. However, the enforcement against market manipulation heavily relies on criminal enforcement. This prioritization of criminal prosecution over administrative and civil enforcement makes it difficult for Korea to protect investors, especially in the post-Morrison world where market manipulation may migrate from foreign markets to Korea. Is future reformation of market manipulation law needed in Korea?Historically, the model of Korean securities laws is Japan's, and the Japanese securities law benchmarked the U.S securities law. Therefore, the core anti-market manipulation law of Korea is almost identical to the U.S securities laws. However, substantial differences between the markets and enforcement history made Korean enforcement quite different. In Korea, the securities law's primary enforcement tool is criminal prosecution. Civil enforcement by securities market regulators is scarce in Korea, and a class action by private investors is tough to bring. Using this criminal enforcement mechanism against foreign market manipulators is almost impossible in practice. The enforcement system, which heavily relies on criminal enforcement could be problematic, especially in the post-Morrison world. Cross-border consistency of civil, administrative, and criminal enforcement is critical to protect investors against the market manipulator who seeks enforcement arbitrage between countries after the U.S. Supreme Court Morrison decision applied U.S. securities laws only to transactions inside the U.S. This dissertation will examine various options for regulatory enforcement reform in Korea that would build on Korea's distinctive institutions and enhance administrative, civil, criminal securities regulation mechanisms against market manipulation.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2023

Mode of access: World Wide Web

ISBN: 9798351429946Subjects--Topical Terms:

600858
Law.
Subjects--Index Terms:

Securities enforcementIndex Terms--Genre/Form:

542853
Electronic books.

Toward Integrative Securities Market Manipulation Regulation in Korea : = Why Does Korean Regulation Rely Heavily on Criminal Enforcement? Should It Change? Theory, Evidence, and Recommendations.
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520 $a Although the securities market in Korea has developed rapidly since 1950 after the Korean war, the Korean securities market regulation to prevent market manipulation began in earnest with the enactment of the Financial Investment Services and Capital Markets Act of Korea in the 2000s, although the market in Korea has developed rapidly since 1950 after the Korean war. The Securities laws and regulations of Korea are very similar to that of the U.S. However, the enforcement against market manipulation heavily relies on criminal enforcement. This prioritization of criminal prosecution over administrative and civil enforcement makes it difficult for Korea to protect investors, especially in the post-Morrison world where market manipulation may migrate from foreign markets to Korea. Is future reformation of market manipulation law needed in Korea?Historically, the model of Korean securities laws is Japan's, and the Japanese securities law benchmarked the U.S securities law. Therefore, the core anti-market manipulation law of Korea is almost identical to the U.S securities laws. However, substantial differences between the markets and enforcement history made Korean enforcement quite different. In Korea, the securities law's primary enforcement tool is criminal prosecution. Civil enforcement by securities market regulators is scarce in Korea, and a class action by private investors is tough to bring. Using this criminal enforcement mechanism against foreign market manipulators is almost impossible in practice. The enforcement system, which heavily relies on criminal enforcement could be problematic, especially in the post-Morrison world. Cross-border consistency of civil, administrative, and criminal enforcement is critical to protect investors against the market manipulator who seeks enforcement arbitrage between countries after the U.S. Supreme Court Morrison decision applied U.S. securities laws only to transactions inside the U.S. This dissertation will examine various options for regulatory enforcement reform in Korea that would build on Korea's distinctive institutions and enhance administrative, civil, criminal securities regulation mechanisms against market manipulation.
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