Kosdaq firms with false disclosure face toughened penalties
Apr 10, 2017
South Korea's bourse operator said Monday that it has toughened its penalties for tech-laden KOSDAQ firms that falsely disclose information, in a move to try to regain investor confidence. A company listed on the secondary board is designated as an "unfaithful disclosure" firm when it intentionally delays a regulatory filing or reports false information twice a year.The toughened penalties require an "unfaithful disclose" firm to pay a fine of up to 10 million won ($8,769) pe