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[Alpha Biz=(Chicago) Reporter Paul Lee] NH Investment & Securities CEO Chung Young-chae, who was severely punished for the Lime and Optimus private equity fund scandal, also filed a lawsuit against the Financial Services Commission.
According to the financial investment industry on the 18th, CEO Chung filed an application for suspension of execution with the Seoul Administrative Court on the 11th along with a lawsuit to cancel the reprimand warning. The suit on the merits has been allocated to the 14th administrative branch. The interrogation of the case for suspension of execution will be held on the 27th of this month at the same court hearing.
The Financial Services Commission earlier decided to punish Chung Young-chae, head of NH Investment & Securities Co., and Park Jung-rim, head of KB Investment & Securities Co., on the 29th of last month for violating financial firms' obligation to set internal control standards under the Corporate Governance Act.
Chung's term expires in March next year. When the term expires, it is unclear whether executives in the financial sector will be employed for three years as well as a second term as the company's CEO.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
