All
| TITLE | Supreme Court Decision 2017Do18164 Decided October 29, 2020 【Violation of the Financial Investment and Capital Markets Act】 [full Text] |
|---|---|
| Summary | |
|
Meaning of “an act of allowing another person to use any material nonpublic information in trading or any other transaction involving specific securities, etc.” of the prohibited acts pursuant to Article 174(1) of the Financial Investment and Capital Markets Act, and in such a case, whether “another person” ought to be limited to a person who receives information directly from an insider and the primary information recipient (addressee) of a listed corporation (negative) In the case of allowing a person who is provided with information transmitted through a direct information recipient to use the above information in a transaction, whether the casual relationship between the addressee’s act of providing information and the information recipient’s act of using information ought to exist (affirmative), and the addressee ought to provide information even though recognizing that the information recipient uses the corresponding information in trading or any other transaction involving specific securities, etc. (affirmative) Standard for determining the degree of the recognition of the addressee as above and whether the addressee recognized it |
|
