In addition that a stock exchange or the directors, supervisors members of each committee, or persons of the equivalent level and managers and associated persons of a stock exchange who have violated these Regulations shall be punished in accordance with the Act, the FSC may additionally sanction or may otherwise notify the stock exchange to punish such persons if the violation is sufficient to interfere with the normal operation of business, and such violation is of a serious nature.

These Regulations shall come into force from the date of issuance, except for Articles 30, 31, and 32-1, which shall enter into force from fiscal 2013.