韩国FSS预计启动Homeplus ABSTB误售相关券商处分程序

The Financial Supervisory Service (FSS) is expected to begin disciplinary proceedings from late next month against securities firms suspected of mis-selling asset-backed short-term bonds (ABSTB) in connection with the "Homeplus crisis."
According to the financial investment industry on the 23rd, the FSS plans to send advance notices of disciplinary measures to securities firms that sold Homeplus ABSTB as early as early next month. Earlier, FSS Governor Lee Chan-jin explained during a briefing to the National Assembly's National Policy Committee on the 21st, "We conducted inspections of Hana Securities and others (that sold ABSTB to individuals), and the investigation into mis-selling is effectively complete."
The FSS is expected to observe a hiatus period until the 20th of next month and submit the disciplinary items to the Sanctions Review Committee at the end of the same month. Once opinions on the level of sanctions are consolidated at the Sanctions Review Committee, an advisory body to the FSS governor, the Financial Services Commission (FSC) generally makes the final decision.
However, it is not yet known which specific securities firms have been confirmed as targets of sanctions for unsound business practices, including Hana Securities, Hyundai Motor Securities and Eugene Investment & Securities, which sold ABSTB to individuals, and Shinyoung Securities, which issued ABSTB and sold them to securities firms.
Meanwhile, with the court extending the deadline for approving Homeplus's rehabilitation plan, which includes a funding scheme, to September 4, Homeplus plans to resume its sale process. Its 37 non-core stores, which had been closed since May 4, will be permanently shut down.
Homeplus stated in a position paper the previous day, "We plan to reopen all 67 core stores that are temporarily closed as soon as debtor-in-possession (DIP) loan funds come in," adding, "Once the loan funds arrive, we plan to prioritize payments for merchandise, overdue rent and utility costs."