FTC to Toughen Penalties for Regulatory Filing Violations by Biz Groups
5 Articles
5 Articles
The Fair Trade Commission announced on the 3rd that it will increase administrative fines by up to 50% if large corporate groups (corporate groups subject to disclosure) repeatedly violate disclosure obligations. The KFTC stated that the revised "Criteria for Imposing Administrative Fines for Violations of Disclosure Obligations on Material Matters by Affiliated Companies of Corporate Groups Subject to Disclosure" and the "Criteria for Imposing …
(Sejong = Yonhap News) Reporter Kim Soo-hyun = If corporate groups subject to disclosure with assets of 5 trillion won or more repeatedly violate disclosure obligations, the penalty will be up to 50% ...
[Digital Daily Reporter Hwang Jin-hyun] Penalties for administrative fines imposed on large corporate groups that repeatedly violate disclosure obligations will be significantly strengthened. The penalty aggravation rate will be raised to a maximum of 50%, and mitigation provisions applied for delayed disclosures or first-time violations will be eliminated. The Fair Trade Commission announced on the 3rd that it has revised the criteria for impo…
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FTC to toughen penalties for regulatory filing violations by biz groups
By Kang Yoon-seungSEOUL, Nov. 3 (Yonhap) -- South Korea's antitrust watchdog said Tuesday it will toughen penalties for business groups with assets of 5 trillion won (US$3.72 billion) or more for repeated violations of corporate disclosure rules.
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