Financial authorities and the nation’s stock market operator launched a joint task force on Wednesday to root out stock price manipulation.

The joint response team comprises officials from the Financial Services Commission, the Financial Supervisory Service and the Korea Exchange, which handled different aspects of the process until now.

The Korea Exchange was solely responsible for analysis, while the Financial Supervisory Service was in charge of investigations and the Financial Services Commission decided administrative action.

This fragmented structure has drawn criticism over delayed investigations, information silos, and weakened ability to enforce regulations.

Through the task force, the financial authorities and the Korea Exchange plan to jointly investigate stock manipulation cases with a view to stepping up enforcement both in speed and intensity.

The formation of the task force is part of the government’s “one strike, you’re out” policy, which calls for the immediate removal of market manipulators from the stock market.