Fines for Large Conglomerates' Disclosure Violations to Tighten… Up to 50% Increase for Repeated Violations
4 Articles
4 Articles
Going forward, administrative fines will be increased by 10% for a single repeated violation of disclosure obligations. The increase will be 30% for two repeated violations and 50% for three or more repeated violations. On the 7th, the Fair Trade Commission announced these details in the ‘Criteria for Imposing Administrative Fines on Cases of Violations of Disclosure Obligations Regarding Important Matters by Companies Belonging to Corporate Gro…
(Sejong = Yonhap News) Reporter Kim Soo-hyun = Fines imposed on corporate groups subject to disclosure (large corporate groups) for violating disclosure obligations are expected to become heavier.
The Fair Trade Commission (FTC) has decided to increase administrative fines by up to 50% for repeated violations to encourage large corporate groups to comply with disclosure obligations. On the 7th, the FTC announced these details in the ‘Criteria for Imposing Administrative Fines on Cases of Violations of Disclosure Obligations for Important Matters by Affiliated Companies, etc. of Corporate Groups Subject to Disclosure’ and the ‘Directors Re…
The penalty aggravation rate imposed on large corporate groups that habitually violate disclosure obligations will be significantly increased to up to 50%.
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