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Hanyang Securities |
[Alpha Biz= Kim Jisun] The financial authorities have decided to suspend the shareholder eligibility review for HanYang Securities by KCGI, following a tax investigation by the National Tax Service (NTS) into KCGI last month. KCGI maintains that its status as the preferred negotiator remains valid until the end of June, meaning the acquisition is still possible. However, market observers are wary, as it is difficult to predict the duration and outcome of the tax investigation, with some suggesting that a "red light" has been triggered.
According to the financial authorities on Wednesday, the Financial Services Commission (FSC) decided to suspend the shareholder eligibility review for HanYang Securities, which KCGI applied for last month, during its regular meeting. A government official explained, "The ongoing tax investigation by the NTS into KCGI constitutes a valid reason for suspending the shareholder eligibility review, and the decision was made accordingly."
The financial authorities can suspend the review process for new financial industry licenses and shareholder change approvals if legal actions, investigations, or inspections are ongoing. This measure is in place to ensure the fairness and transparency of the licensing process for the financial industry. It is applied when significant factors that could impact the financial stability and soundness of the company under review are identified.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
