[상보] Resolution on the sanctions of the financial supervisory service, CEO of the “Disciplina severe” limestone sales company

[서울=뉴스핌] Reporter Minsoo Kim = The Deliberation Committee on Sanctions of the Financial Supervisory Service (hereinafter referred to as the Deliberation on Sanctions) has decided on a severe disciplinary action against the former and current CEOs of the main sellers of Lime Fund.

[서울=뉴스핌] Reporter Yoon Chang-bin = Seoul Yeouido Financial Supervisory Service 2020.05.11 [email protected]

The Financial Supervision Service Sanctions Trial held the third meeting of the Financial Supervision Center in Yeouido, Seoul on the afternoon of the 10th with KB Securities Park CEO Jung-lim and Yoon Kyung-eun, former CEO Kim Byeong-cheol and Kim Hyung-jin and Na Jae-cheol of Daishin Securities President of the Investment Association) and other former and current CEOs such as the job suspension and censorship warning have been confirmed.

First, Shinhan Investment Corp has decided to propose a partial suspension of business and impose a fine on the Financial Services Commission for violating the Capital Market Act, such as a ban on using illegal methods for the purpose of concealing illegal transactions by investors linked to the Lime Trade Finance Fund. In addition, for related employees, it was decided to lay off (resign) and suspend (resign).

Daishin Securities was subject to Lime Fund’s ban on unreasonable solicitation and breach of its obligation to establish internal control standards, thereby shutting down Banpo WM Center and imposing a fine. Retirement (retirement) and suspension of work (retirement) were also decided for related employees.

KB Securities, the only seller to whom disciplinary action has been reported by the current CEO, is also suspended due to the obligation to prohibit the unfair solicitation of the Lime Fund, prohibit the use of illegal methods for the purpose to conceal illegal transactions from investors and violate the obligation to establish internal control standards. And the imposition of the penalty was confirmed. In addition, the related employee was suspended from work (retired) and a censorship notice was issued.

Previously, the financial supervision service notified these securities firms of sanctions such as suspension of the CEO’s job. There are five types of penalties for executives: dismissal recommendation (restriction on appointment of managers for 5 years), suspension from work and suspension from work (4 years), reprimand (3 years), precautionary warning, caution, etc. to do.

On the other hand, the sanctions review is an advisory body of the FSS, and the results of the deliberation have no legal effect, and the details of the sanctions are finalized through the approval of the FSS, the resolution of the Securities and Futures Commission and the resolution of the Financial Services Commission.

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