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[이데일리 서대웅 기자] In case the financial authorities are obligated under financial laws and regulations, the system will be improved so that fines for negligence are imposed only on financial companies. It was pointed out that it was unreasonable to impose fines on executives and employees when they violated their obligations due to problems with the company system.
The Financial Services Commission and the Financial Supervisory Service announced on the 16th that they had decided to promote the improvement of the fine system in the financial sector in this direction by holding the ‘Financial Sector Fine System Improvement Expert Meeting’ together with private experts and the financial sector. This is because a number of points have been raised on the appropriateness and predictability of imposing fines on financial companies and executives during the recent discussions at the FSC’s agenda review subcommittee.
The authorities are planning to collectively reorganize those subject to the fine for negligence into “duty offenders.” For example, in the case of the Financial Real-Name Act, when a financial company provides customer transaction information to a third party, it is stipulated that relevant records be recorded and managed, but fines are imposed on executives and employees. In other words, if the subject of compliance with the law is a financial company, the system will be reformed so that fines are imposed only on financial companies.
Regulations on the grounds of fines are also specified. Some statutes regulate fines for negligence as comprehensive provisions without specific acts or grounds related to the imposition of fines. In order to improve the predictability and reliability of law enforcement, the plan is to delete the general fine regulation and prepare the grounds for fines for each duty and act.
The fact that the fine for negligence under the enforcement ordinance is too low compared to the upper limit of the fine for negligence under the law is also improved. The law regulates the fine for negligence to be less than 50 million won, but the Enforcement Decree stipulates that it is less than 2.5 million won. In line with the purpose of the upper law, the enforcement ordinance will set the standard amount of fines at 50% or more of the statutory upper limit.
For simple and minor violations, it is also reviewed to give a corrective opportunity by giving a primary warning. In addition, it was decided to overhaul the disciplinary system between fines and fines, such as converting some of the objects of fines to fines.