Samsung Securities should face partial suspension-Korean watchdog

Samsung Securities Co

21/06/2018 12:45

SEOUL, June 21 (Reuters) - South Korea's financial watchdog
said on Thursday that it recommended suspending some of Samsung
Securities'  016360.KS  operations for six months after the
broker's 'fat finger' error prompted a public outcry. 
    The Financial Supervisory Service (FSS) decided to recommend
partially suspending the broker's operations to the Financial
Services Commission (FSC), which makes the final decision, it
said in a text message to reporters.
    Samsung Securities, one of South Korea's largest stock
brokers, accidentally issued in April 2.8 billion shares to
employees - more than 30 times the number of its outstanding
shares and theoretically worth some $100 billion - some of which
were quickly sold off by workers.  urn:newsml:reuters.com:*:nL3N1RN1GV    
    

 (Reporting by Haejin Choi and Yuna Park; writing by Joyce Lee;
Editing by Adrian Croft)
 ((Haejin.Choi@thomsonreuters.com;))