Financial Supervisory Governor Yoon Seok-heon argued that the current financial supervisory system, which is divided into policy and enforcement, has unclear responsibility in the event of a financial accident. It is evaluated that it was interpreted as an extension of the FSS’s independence raised at the National Administration Audit in October.
Director Yoon made this statement through an online year-end press conference held on the afternoon of the 23rd and emphasized the necessity of reorganizing the financial supervisory system.
He said, “The current structure is a dualized supervisory system, but there is a problem where the responsibility for supervisory policy and execution is unclear, and the same problem has emerged in the recent private equity crisis.” It is necessary to reorganize the financial supervision system as it leads to inefficiency of supervisors and damage to consumers.”
Director Yoon added that financial industry policy and supervisory policy should be checked and balanced with each other, while financial supervision should maintain minimum independence, and policies and enforcement should be organically operated in supervisory duties.
However, regarding the issue of budget independence, Yoon said, “In that the supervisory system is not independent just because the budget is independent, budget independence is only part of the independence of the supervisory system,” he said. “Currently, the bill has not been submitted to the National Assembly and includes overseas cases. “We are considering various alternatives.”
At the meeting on this day, the schedule of future inspections and sanctions on major disputes related to consumer protection such as private equity issues and Kiko re-investigation were also mentioned.
Regarding the recent KIKO, Citibank Korea’s voluntary compensation, Dr. Yun said, “During the DLF crisis, consumer protection is important and problems arise when selling derivatives to customers who are difficult to understand. “Companies have experienced similar problems,” he said. “It is applied to a company that has not filed a lawsuit that there is a case of injustice in the Supreme Court case, and it is in no way contrary to the Supreme Court decision.”
Regarding the Optimus Fund, which is currently preparing for dispute settlement, Yoon said, “The current contract cancellation or incomplete sale has not yet been answered. So, we will proceed with dispute settlement and sanctions after arranging legal review and fact check as soon as possible.” “If it is difficult to cancel the contract, we have to go to incomplete sales, but if there is an agreement that it is difficult to estimate the amount of damage, we will open dispute settlement based on that standard and come up with a recommendation.”
Director Yoon apologized again for the involvement of some FSS employees in the private equity crisis. Director Yoon said, “As the director, we are sorry for the former support manager Moo Kim, who was dispatched to the Blue House, and Moo Yoon, who is being investigated for a case related to Optimus. “I don’t think I’m passing it on to a financial company.”
Meanwhile, various opinions were presented on the reappointment of CEOs of major financial companies, which is the current main issue. First of all, regarding the concerns about the “royal CEO” due to the long-term retirement of the chairman of the financial holding company, the reappointment of the CEO has both positive and negative effects.
Regarding the reappointment of CEO Park Jung-rim, represented by KB Securities, who received severe punishment in the recent FSS sanctions deliberation, Director Yoon said, “It is difficult to comment on a series of criticisms of financial companies because of their own circumstances.” I have a lot of worries, but I tend to be relatively less worried about the organization,” he said.
[소비자가만드는신문=김건우 기자]
Copyright owner © Unauthorized reproduction and redistribution of newspapers made by consumers is prohibited.