(Seoul = Yonhap News) Reporter Kim Nam-kwon = Financial Supervisory Service on the afternoon of the 5th, IBK Industrial Bank, a large private equity firm[024110]The second sanction review committee (sanctions review) was opened.
In the sanctions review held in a non-face-to-face manner, the agenda was put on the agenda as a result of an inspection by IBK IBK, which sold Lime Fund and Discovery Fund.
[박은주 제작] Photo synthesis/illustration
The sanctions review on this day also deals with the issue of Discovery Asset Management, which is the management company of the Discovery Fund.
Prior to the sanctions review, the Financial Supervisory Service informed the IBK of the disciplinary proposal. At the time of the fund’s sale, it is known that Kim Do-jin was notified of severe disciplinary action (recommendation of dismissal, suspension of work, warning of censure) beyond a censure warning.
In 2017-2019, IBK sold the Discovery US Fintech Global Bond Fund and the Discovery US Real Estate Senior Bond Fund worth KRW 361.2 billion and KRW 318 billion, respectively. However, the redemption of 69.5 billion won and 21.9 billion won, respectively, is delayed as US managers are unable to recover bonds invested in fund funds.
Lime Asset Management’s fund, which caused a large-scale redemption suspension, also sold 29.4 billion won.
It is reported that the IBK side emphasized efforts to relieve investors’ damages to lower the level of disciplinary action in the sanctions review.
The Financial Supervisory Service plans to set the level of sanctions against IBK and its management at the sanctions review held on the 28th of last month.
The sanctions trials of other banks (Woori and Shinhan Banks) that sold Lime Fund are scheduled to take place on the 25th of this month.
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2021/02/05 14:37 sent