The antitrust watchdog has moved to sanction 15 primary dealers in the government bond market over alleged bid-rigging and illegal information-sharing in Treasury auctions, a case that could result in fines of over 15 trillion won ($10.5 billion) if the charges are upheld. The Fair Trade Commission (FTC) on Thursday said that its investigation bureau had submitted an examiner’s report to the commission and served it on the 15 firms, alleging that they colluded in Treasury bond auctions between January 2020 and June 2023. The report does not represent the commission’s final decision, which will be determined after deliberations by the full commission. The 15 companies are Kyobo Securities, Daishin Securities, Meritz Securities, Mirae Asset Securities, Samsung Securities, Shinhan Securities, NH Investment & Securities, KB Securities, Korea Investment & Securities and Kiwoom Securities, as well as KB Kookmin Bank, NH Bank, Industrial Bank of Korea, KEB Hana Bank and Korea Development Bank. The alleged collusion involved agreements on bidding yields and the exchange of auction-related infor
15 gov’t bond dealers face sanctions over alleged bid rigging
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