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CFTC Issues Order Finding that Korea Exchange, Inc. Made a False and Misleading Certification to the CFTC
Washington, DC – The Commodity Futures Trading Commission (CFTC) issued an Order today filing and simultaneously settling charges against Korea Exchange, Inc. (KRX) of Busan, South Korea, for making a false statement to the CFTC. The Order finds that on February 19, 2018, KRX falsely represented in its annual certification that it was in compliance with the CFTC’s exemptive order requiring that KRX observe certain important international financial management standards. In fact, according to the Order, KRX had discovered that its policies and practices were inconsistent with those standards and had already begun remedial measures to address those failures.
CFTC Issues Order Finding that Korea Exchange, Inc. Made a False and Misleading Certification to the CFTC
Washington, DC – The Commodity Futures Trading Commission (CFTC) issued an Order today filing and simultaneously settling charges against Korea Exchange, Inc. (KRX) of Busan, South Korea, for making a false statement to the CFTC. The Order finds that on February 19, 2018, KRX falsely represented in its annual certification that it was in compliance with the CFTC’s exemptive order requiring that KRX observe certain important international financial management standards. In fact, according to the Order, KRX had discovered that its policies and practices were inconsistent with those standards and had already begun remedial measures to address those failures.
