KB Securities has adopted a Fair Trade Compliance Program (CP) and is moving to spread a voluntary compliance culture. It aims to strengthen its internal compliance system to establish a fair trading order and boost financial consumer trust.

KB Securities said on Tuesday it held a ceremony declaring the introduction of the Fair Trade Compliance Program to expand a voluntary culture of compliance with fair trade rules.

The Fair Trade Compliance Program is an internal compliance system that companies establish and operate to voluntarily comply with fair trade-related laws, including the Monopoly Regulation and Fair Trade Act. It is a programme evaluated and operated by the Korea Fair Trade Mediation Agency under the Fair Trade Commission.

KB Securities has prepared an implementation framework for the CP since January, including forming a team in charge of fair trade and appointing an in-house lawyer as the person responsible.

It also enacted internal rules related to fair trade and appointed a compliance manager for fair trade through its board of directors. It is also gradually building a foundation to entrench a culture of voluntary compliance, including providing training for executives and employees on complying with the fair trade law.

A KB Securities official said, "Through the Fair Trade Compliance Program, KB Securities seeks to contribute to establishing a fair trading order in the capital market." The official added, "We will continue to practise voluntary compliance with fair trade together with all executives and employees."