|May 26, 1998|
The SESC sent recommendation to the Minister of Finance to take disciplinary action against ING Bearing pursuant to Article 191) of Ministry of Finance Establishment Law on May 26, 1998.
(Sale of securities without owning such securities )
(short-sell) from May 1997 to December 1997.
As for the orders of these short-sells (70 cases), all of them was not marked as 'short' (Violation of Article 26-2 1) or 3) of Enforcement Order of the SEL), moreover, 17 cases out of them was effected at below the price at which last sale hereof was effected (Violation of Article 26-3 1)of said order ).
(Violation of Article 162 (1) 1 of SEL)