신한은행 (사진=신한은행)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Shinhan Investment & Securities Co. and NH Investment & Securities Co. were also fined by the Financial Services Commission.

Both companies were fined 669.1 million won each for violating public disclosure for failing to submit securities reports after splitting and issuing derivative-linked securities (DLS) in February, and were fined again a month later for the same reason.

According to the fifth resolution released by the Financial Services Commission on the 11th, Shinhan Investment & Securities and NH Investment & Securities did not submit securities reports while splitting and selling the same type of DLS.

However, regarding the criteria for recognizing the uniformity of the issuance or sale of securities, the Financial Services Commission decided that it is difficult to see that it intentionally did not submit a securities report due to the unclear perception of the securities industry since the Enforcement Decree of the Capital Markets Act (Article 129-2) was amended in February 2021.

Initially, the Financial Supervisory Service imposed a fine of 944.4 million won on Shinhan Investment & Securities, a notice to investigative agencies for three executives and employees, and 874 million won on NH Investment & Securities. However, the Financial Services Commission lowered the amount of fines, judging that the two securities companies violated their disclosure obligations as gross negligence, not intentional.

Finally, the Financial Services Commission imposed a fine of 919 million won on Shinhan Investment & Securities and a notice to investigative agencies for three executives and employees, while imposing a fine of 860.3 million won on NH Investment & Securities.

Shinhan Investment & Securities was confirmed to have paid a fine of 919 million won that was disposed of by the Financial Services Commission. NH Investment & Securities also paid a fine of 860.3 million won.

This is not the first time Shinhan Investment & Securities and NH Investment & Securities have violated their obligation to submit securities reports. Including this case, Shinhan Investment & Securities has been fined four times in the past year for violating its obligation to submit securities reports. NH Investment & Securities has also been fined five times in the past year.

Shinhan Investment & Securities Co. has paid 2.117 billion won and NH Investment & Securities Co. 2.1367 billion won in fines for violating its obligation to submit securities reports over the past year.

 

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