Son Tae-seung’Job Suspension’, Jin Ok-dong’Response Warning’
Sanctions Deliberation Against These Banks, Scheduled On The 25th
The Financial Supervisory Service notified Woori Bank and Shinhan Bank’s chief executive officer (CEO) of severe disciplinary action in relation to the Lime crisis. /Photo = Yonhap News
The Lime Asset Management Fund, which called for a large-scale redemption suspension, and the related Financial Supervisory Service notified Woori Bank and the CEO of Shinhan Bank of severe punishment.
According to the financial authorities on the 3rd, the Financial Supervisory Service sent a notice of sanctions in advance based on the test results of Woori Bank and Shinhan Bank, a Lime Fund seller, on the afternoon of that day.
At the time of the Lime crisis, Woori Financial Group Chairman Son Tae-seung, who was the head of Woori Bank, was notified of a suspension of duties, and Jin Ok-dong, head of Shinhan Bank, was notified of a censure warning.
The level of sanctions against financial company executives is divided into five stages: recommendation of dismissal, suspension of work, reprimand warning, cautious warning, and caution. Among them, censure warnings and above are classified as severe disciplinary action restricting employment in financial companies for 3 to 5 years.
If the sanctions are finalized through a sanctions review and the Financial Services Commission, Jin Ok-dong, who succeeded in serving two years in office in March, is expected to take a break from the challenge of three consecutive terms or the chairman of the financial holding company.
It is known that the Financial Supervisory Service has imposed severe disciplinary action for taking responsibility for incomplete sales. However, it is interpreted that the disciplinary level of Chairman Son and Chairman Jin was different because the disciplinary level of the incomplete seller was different.
At the time of the Lime crisis, Woori Financial Group Chairman Son Tae-seung, who was the head of Woori Bank, was notified of the suspension of work. /Photo = Yonhap News
In the case of Woori Bank, the head of the headquarters, who was an incomplete sales agent, was advised to dismiss, and Chairman Son, the supervisor, was notified of the suspension of work. Disciplinary action against supervisors is set one level below the actor.
In Shinhan Bank, the level of disciplinary action was set as suspension of work, and the supervisor, Jin, was notified of a censure warning. The sanctions hearing on these banks is scheduled to take place on the 25th of this month.
Meanwhile, Cho Yong-byung, chairman of Shinhan Financial Group, was notified of a’cautionary warning’, a disciplinary action. The Financial Supervisory Service is known to have made a problem with the Shinhan Financial Group’s “matrix system.” Bo-bae Lee, guest reporter at Hankyung.com [email protected]
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