April 24, 2018

FSS reprimands 4 brokerages for illegal rebates

PUBLISHED : April 21, 2017 - 15:32

UPDATED : April 21, 2017 - 15:32

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

[THE INVESTOR] Korea‘s financial regulator said April 21 it has decided to reprimand four securities firms for receiving illegal rebates.

The four brokerages were allegedly accused of receiving a total of more than 10 billion won (US$8.80 million) in illegal rebates from the Korea Securities Finance Corp. in return for depositing their customers’ money, according to officials at the Financial Supervisory Service.

Mirae Asset Daewoo will receive a relatively heavier penalty of an “institutional warning” because its employees received a large portion of the illegal rebates.

NH Investment & Securities and Yuanta Securities will be slapped with a relatively lighter penalty of an institutional caution.

The three brokerages and Korea Investment & Securities will also be fined. In addition seven executives and seven officials will receive a caution, the FSS said.

By Alex Lee and newswires (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Shin Chang Hoon
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0615|Business info