The comprehensive inspection of the Korea Exchange, which is conducted in 11 years, is conducted in March as early as possible. It is pointed out that it is difficult to avoid criticism that it is a half-sized prosecutor, while the scope of comprehensive inspections is excluding major areas of management support, such as personnel, amid the difference in perspective of the financial authorities.
According to the financial authorities and the National Assembly on the 5th, the Financial Services Commission plans to conduct a comprehensive inspection of the Korea Exchange this month and is coordinating the scope of the inspection with the Financial Supervisory Service at the last minute. The Financial Services Commission is in a position to narrow the scope of the business sector, saying that it is a double inspection because it looks through the management status evaluation by affiliates every year. The Financial Supervisory Service has submitted an opinion to the Financial Services Commission that a comprehensive inspection is necessary. An official from the Financial Supervisory Service said, “In fact, inspections excluding the management division are division inspections.”
Industry observers are concerned that the Financial Services Commission will be engulfed in controversy over’watching’ over reducing the scope of the test. The exchange received A grade in the management status evaluation conducted by the Financial Services Commission for the past three years, because if sanctions are found in the Financial Supervisory Service’s comprehensive inspection, it may become difficult. Some point out that the close relationship between the FSC and the exchange is in the background. The former financial committee members have always been on the positions of the exchange’s chairman, including former chairman Ji-won Ji-won and incumbent Chairman Son Byeong-du. An official from the financial investment industry said, “The management support sector, such as personnel, is inevitable because the former financial committee OBs are directly connected to the chairman’s hands and feet.” The reason why the exchange’s comprehensive inspection has been canceled is because the Financial Services Commission holds the supervisory authority. The exchange was canceled by public institutions in 2015, but it is a public service-related organization that performs various tasks entrusted by the government, and is subject to inspection by the Financial Supervisory Service when requested by the Financial Services Commission. Recently, the exchange has conducted special supervision on the entire transaction details of the market makers for the past three years and six months, but there is a strong backlash from Donghak ants, as it is pointed out that it is only’self supervision’. The exchange’s comprehensive inspection has not been conducted since 2010. The National Assembly also pointed out that the Financial Services Commission should ensure that the Financial Supervisory Service can properly perform its surveillance function.
Reporter Kim Bo-reum [email protected]