(Photo = FSS)

 

[Alpha Biz= Reporter Paul Lee] The Financial Supervisory Service will begin regular inspections of NH Nonghyup Financial Group and its affiliates around the middle of next month. The recent frequent inspections against NH Nonghyup Financial Group and NH Nonghyup Bank will be converted to high-intensity regular inspections to focus on governance structures.

The Financial Supervisory Service will begin regular inspections of NH Nonghyup Financial in mid-May. The government has decided to switch the existing frequent inspections to pre-inspection because pre-inspection must be started a month before the regular inspection. When regular inspections begin, the number of inspectors is expected to increase significantly, which will lead to high-intensity inspections.

The Financial Supervisory Service earlier began occasional and regular inspections of holding companies and affiliates such as NH Nonghyup Financial Group, NH Nonghyup Bank and NH Investment & Securities on the 7th of last month. It has been looking at 10.9 billion won worth of malpractice accidents at Nonghyup Bank, procedures for appointing CEOs of securities firms, and governance structures.

 

 

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