Financial Supervisory Service. (photo = Yonhap news)

 

[Alpha Biz= Reporter Kim Minyoung] The Financial Supervisory Service (FSS) has been examining employee sanctions related to violations of securities report submission obligations since August 8th.

According to the financial industry on the 10th, the FSS is scrutinizing a total of 5 securities firms, including Korea Investment & Securities and Hana Financial Investment.

This inspection is being conducted through ad-hoc examinations conducted in writing. The focus is on the status of sanctions against employees of securities firms.

In the past, some securities firms violated their obligations by issuing derivative-linked securities (DLS) and exceeding the deadline for submitting securities report forms. Under the Capital Market Act, when recruiting more than 50 investors through public offerings, securities firms must submit securities report forms for collective investment securities issuance. However, in the past, some securities firms violated these obligations by circumventing public offering regulations. It is now being verified whether employees were involved despite these legal violations.

Meanwhile, the FSS has completed measures to impose fines related to violations such as failure to submit securities report forms and breaches of subscription solicitation procedures.

 

 

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