iM Securities Establishes Internal Control Committee to Strengthen Internal Controls

iM Securities (formerly Hi Investment & Securities) is strengthening its internal controls.

iM Securities announced on the 13th that it established an Internal Control Committee within the board of directors through a resolution at an extraordinary general meeting of shareholders held on the 6th.

Since his inauguration in March, Sung Mooyong, CEO of iM Securities, has declared strengthening internal controls as a top priority alongside various agendas such as synergy, diversification of revenue sources, and corporate culture improvement.

Through the Internal Control Committee, iM Securities plans to establish measures to instill an organizational culture that values employees' professional ethics and compliance spirit, formulate basic policies and strategies for internal control, and enhance the internal control system to secure customer trust.

The chairperson of the Internal Control Committee was appointed from outside directors, and to strengthen independence, all three committee members were composed of outside directors, applying requirements much stricter than related laws that only require a majority of outside directors on the committee.

In addition, iM Securities is promoting various activities to build an effective internal control system.

To strengthen consumer protection policies, it enhanced product review procedures before product sales to improve the effectiveness of the Product Review Committee’s operations, and improved internal control-related systems from the financial consumer perspective by expanding on-site inspections to prevent incomplete sales.

To smoothly introduce the accountability structure scheduled for full implementation in July 2025, iM Securities plans to prepare a roadmap and conduct external consulting for thorough prior preparation, and will expand the customer identification system in the head office sales division to strengthen anti-money laundering measures.

An iM Securities official stated, “We are steadily implementing new changes and innovations from the perspective that strengthening internal controls is the foundation of business and a prerequisite for sound operations and revenue growth,” adding, “We will strive to create better value through establishing an effective internal control system.”

This content was produced with the assistance of AI translation services.