The financial authorities have captured circumstances suggesting that an employee of NH Investment & Securities used undisclosed important information obtained during public purchase transactions for unfair gains and have initiated a search and seizure.
According to the financial investment industry on the 24th, the Financial Services Commission is conducting a search and seizure at the headquarters of NH Investment & Securities. It is reported that one employee of NH Investment & Securities is under investigation for allegedly sharing undisclosed important information obtained during public purchase transactions or directly using it for stock transactions.
According to Article 174 of the Capital Markets Act, using undisclosed information that may significantly affect investment decisions in trading or allowing others to use it is subject to punishment.
The financial authorities have identified the use of undisclosed important information as one of the three major unfair transactions and continue to investigate. In January, officials from a law firm and four employees from a private equity fund were reported to prosecutors for allegations of using undisclosed important information. The financial authorities are also said to be looking into two to three other securities firms besides NH Investment & Securities.