Three brokers at Mirae Asset Daewoo, who were not identified to the media, were given penalties such as suspension, wage cut and reprimand by the watchdog a month after their wrongdoings came to light.
|(Mirae Asset Group)|
The activities are considered illegal under the Capital Markets Act in Korea.
Alongside the fine, Mirae Asset Daewoo was given an advisory for selling options by Euro Asset, which investors said has incurred a combined 30 billion won in losses. A month earlier, the brokerage was voted to be placed under advisory.
The latest measure bodes ill for Mirae Asset Daewoo, which has aimed to secure short-term lending rights from the watchdog.
The FSS has also issued warnings to Hanwha Investment & Securities over a breach of duty under the asset management agreement for swindling money from customer accounts. In addition, the FSS disciplined HMC Investment Securities for mishandling discretionary trust.
By Son Ji-hyoung