KB Securities said on the 10th that it held a "declaration ceremony for the introduction of the Compliance Program (CP) for fair trade" to spread a voluntary culture of fair trade compliance.
The ceremony was prepared to express KB Securities' commitment to voluntarily comply with fair trade and to have all executives and employees join in establishing a fair market order. At the event, under the slogan "We pursue honest finance and fair competition," the CEO's declaration on fair trade compliance and the code of conduct for executives and employees were read aloud.
The Compliance Program (CP) for fair trade is an internal compliance system that corporations operate to voluntarily comply with fair trade–related laws, such as the Monopoly Regulation and Fair Trade Act. The Korea Fair Trade Mediation Agency under the Korea Fair Trade Commission evaluates and operates it.
To introduce the CP, KB Securities has established an implementation framework since Jan., forming a fair trade team and designating in-house counsel as the person in charge. It also enacted internal regulations related to fair trade, appointed a fair trade compliance manager through the board of directors, and provided training on compliance with the Fair Trade Act for executives and employees.
KB Securities explained that the introduction of this CP reflects its intention to go beyond simple legal compliance to establish a fair competitive order based on ethical management and to enhance the trust of financial consumers and the market.
Co-CEOs Kang Jin-du and Lee Hong-gu of KB Securities said, "KB Securities seeks to contribute to establishing a fair transaction order in the capital market through the fair trade compliance program," adding, "We will continue to have all executives and employees practice fair trade compliance together for the protection of financial consumers and the balanced development of the capital market."