Yoon Seok-heon Director: "Regarding Lime Sanctions, We Will Examine Faults and Mitigations Compared to DLF Case"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] Yoon Seokheon, Governor of the Financial Supervisory Service, said on the 17th regarding sanctions on Lime fund distributors, "We are proceeding by using last year's sanctions on overseas interest rate-linked derivative-linked funds (DLF) as a base and examining whether there were worse violations or any mitigating circumstances."

Governor Yoon made this remark in response to Rep. Hong Seongguk of the Democratic Party's comment during the Financial Services Committee briefing at the National Assembly, stating, "Not all responsibility should be placed solely on financial company executives and CEOs."

Governor Yoon emphasized, "(Financial authorities' sanctions) naturally affect individuals and also impact the future of financial institutions, so it is necessary to be cautious, and we are doing so internally as well."

He added, "Consumers suffered tremendous damage, much of which was caused by distributors' incomplete sales," and said, "This is related to the lack of established internal control standards."

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