The Hanmi Pharmaceutical Group has come up with a set of internal regulations to prevent its executives and employees from using classified information for stock trading, the company said Thursday.
The new rules, coming as a part of the group’s objective of “trust-based management,” will go into effect on March 20 after winning an approval at its board meeting.
|Hanmi headquarters at Songpa-gu, Seoul|
Entitled the “regulations on managing classified information and transaction of specific (own) shares,” they target at the company’s executives and employees involved in managing operational performances, those participating in specific projects, and other staff members.
Performance management executives, for example, cannot trade Hanmi Pharmaceutical, Hanmi Science, and JVM stocks from the day the company announces significant news to the end of the pertinent quarter.
Employees that partake in projects cannot trade stocks of the above three companies, either, until they make public the project’s contents.
All other staff members are to report the contents of stock trades, such as transaction volumes and prices, every quarter, on the group’s intranet.
Hanmi also calls for all employees to keep all classified information acquired in the line of duty confidential for one year after retirement, and not trade stocks under borrowed names.
“All employees of Hanmi Pharmaceutical Group should abide by these regulations to establish “trust-based management,” a company official said. “We will do our utmost to restore market’s trust and set up global management system.”
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