The Financial Supervisory Service conducted an on-site inspection of technology credit rating agencies that were "unfairly handled."
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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hoondork1977@alphabiz.co.kr | 2023-04-19 19:44:41
[Alpha Biz=(Chicago) Reporter Paul Lee] The Financial Supervisory Service said on the 19th that it has conducted on-site inspections since the second half of last year after receiving reports of "unfair business handling" from five technology credit rating agencies (TCBs).
The on-site inspection found that TCB provided expected credit rating information to the bank, the requester of the evaluation, before issuing the final technical credit evaluation report.
It was also revealed that the government consulted with the bank, the requester of the evaluation, on the evaluation rating that can be borrowed in advance, and falsely stated that the company subject to the evaluation used other certificates or had professional personnel even though there were no technical experts.
As a result, one of the five TCBs subject to inspection completed the FSS sanctions review on the 6th, and the final measures will be finalized by the Financial Services Commission. The Financial Supervisory Service plans to quickly complete follow-up measures such as sanctions on the four TCBs in order.
"We plan to take stern measures against illegal and unfair practices by technology credit rating companies confirmed as a result of the inspection in accordance with related laws and procedures," the FSS said. "We will induce industry self-purification efforts to establish a sound credit rating order, such as holding a meeting to prevent a recurrence."
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