All appeals are dismissed.

1. As to the Defendants’ grounds of appeal, the allegation that the lower court erred by misapprehending the legal doctrine on the sentencing guidelines and the principle of prohibition of disadvantageous change in sentencing constitutes the allegation of unfair sentencing.

However, under Article 383 subparagraph 4 of the Criminal Procedure Act, only in cases where death penalty, life imprisonment, or imprisonment or imprisonment without prison labor for not less than ten years has been imposed, an appeal on the grounds of unfair sentencing is allowed. Thus, in this case where a more minor sentence has been imposed on the Defendants, the argument that the amount of punishment is unreasonable is not

2. The lower court reversed the first instance judgment convicting the Defendants on the violation of the Financial Investment Services and Capital Markets Act due to unfair trading in 2013 among the facts charged in the instant case, and acquitted the Defendants on the grounds stated in its reasoning.

In light of the relevant legal principles and records, the lower court did not err in its judgment by misapprehending the legal doctrine on Article 178(1) of the Financial Investment Services and Capital Markets Act, contrary to what is alleged in the grounds of appeal.

3. Therefore, all appeals are dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.