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Financial Supervisory Service. (photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] The Financial Supervisory Service announced a dispute settlement plan for the Hong Kong H Index's Share Price-Linked Securities (ELS), saying it will also sanction seven securities firms that entertained bank employees for sale.
On the 12th, the Financial Supervisory Service announced the results of preliminary inspections and dispute settlement standards related to the ELS based on the Hong Kong H Index at its headquarters in Yeouido, Seoul.
Lee Se-hoon, senior vice president of the Financial Supervisory Service, said, "An investigation is underway into (the seven securities firms that entertained KB Kookmin Bank)," adding, "We will impose sanctions or punish them separately in accordance with the procedures."
Earlier, the FSS conducted an on-site survey of seven securities firms, including Meritz Securities Co., Mirae Asset Securities Co., Korea Investment & Securities Co. and NH Investment & Securities Co., which served KB Kookmin Bank's ELS staff with golf. We have also secured a book containing entertainment expenses.
The employee received more than 15 golf entertainments from a number of securities firms from January 2021 to June last year. KB Kookmin Bank recognized this and sentenced this employee to a three-month suspension in June last year for violating the obligation to maintain integrity.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
