Stock market newcomers to face strict filing rules from July
A sign for the Financial Services Commission at Government Complex Seoul / Korea Times file
Newly listed firms will face stricter filing rules starting in July as part of regulatory efforts to boost investor confidence and provide more detailed information, the country's financial regulator said Wednesday.
According to the Financial Services Commission, newcomers on the stock market will be obliged to submit their quarterly and semiannual business reports in addition to regular business reports after the listing.
Also, they will be required to provide detailed information on their sale of convertible bonds, exchangeable bonds and other debts a week before a due date for money deposits from investors.
The enhanced rules will be applied to those who make their market debuts after July 22, according to the regulator.