Watchdogs to announce measures to tackle stock price rigging

South Korean financial authorities plan to announce a set of measures to expand their surveillance of price rigging on the country's stock markets, sources said Wednesday.

The Financial Services Commission is to hold a meeting with governmental authorities, including the Ministry of Justice, the National Tax Service, the Financial Supervisory Service (FSS), and the Korea Exchange, on Thursday to prepare countermeasures against price manipulations.

Sources said the envisioned plan includes giving investigative power to the FSS to better deal with share price manipulations.

In March, the government announced it would expand surveillance and punishment for price-rigging activities on the local stock market.

(Yonhap News)