SUMMARY
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The Securities and Exchange Commission is proposing more stringent sanctions on entities found guilty of insider trading, and wants those who profited from unethical business transactions to repay their ill-gotten wealth plus interest. SEC chair Teresita Herbosa said in a statement Wednesday, April 3, “We’d like to strive for a fair and honest capital market. We’ll probably be able to achieve that through vigorous prosecution of securities law violators as well as the imposition of stiffer fines and penalties.” The SEC has acquired its own surveillance system to prevent fraudulent trading activities. It likewise signed an agreement with the Korea Exchange for a cutting-edge market surveillance system that will monitor both the bond and stock markets.
Read the full story on Rappler.
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