The Securities Disciplinary Committee Decides to Reconsider Imposing Fines on Securities Firms Selling Lime

[Asia Economy Reporter Ji-hwan Park] The Securities and Futures Commission under the Financial Services Commission has decided to reconsider the penalty proposal for Lime fund distributors.

On the 20th, the Securities and Futures Commission held a regular meeting and deliberated late into the night on the penalty proposal against Lime fund distributors Shinhan Financial Investment, Daishin Securities, and KB Securities, but was unable to reach a conclusion.

The Commission stated, "We reviewed the agenda after hearing opinions from the Financial Supervisory Service and the parties subject to the measures," adding, "Since additional matters need to be confirmed, we decided to reconsider it at the next Securities and Futures Commission meeting."

The Commission had previously postponed the conclusion for further discussion at the regular meeting held in November last year.

In November last year, the Financial Supervisory Service held a disciplinary review committee and imposed suspensions, severe disciplinary actions against CEOs, and fines on these securities firms for violations of the Capital Markets Act and other issues. The current Securities and Futures Commission meeting is reviewing the fine proposal. Disciplinary measures against executives and institutions will be reviewed and decided by the Financial Services Commission in the future.