Repurchase recommendation to investment funds such as Kim Sang

It was confirmed on the 28th that the Financial Supervisory Service started an inspection of Mirae Asset Securities in connection with the suspicion of preferential redemption of lime funds In August and September 2019, just before Lime Asset Management announced the suspension of fund redemption, Mirae Asset actively recommended redemption to some Lime Fund subscribers, including Democratic Party lawmaker Kim Sang-hee, and focused on checking the background of returning the investment.

The background/method of the repurchase recommendation is the focus
From the middle of this month, the Financial Supervisory Service has been inspecting the illegal operation of Mirae Asset’s discretionary asset management products, ‘bond-type wrap accounts and specific money trusts’, and is known to have added an inspection to clarify the lime fund suspicion. Depending on the situation, the Financial Supervisory Service is also considering expanding the subject of inspection to all financial companies that sold lime funds.

According to the securities industry and financial authorities, the focus of the FSS inspection is on the background of Mirae Asset suddenly recommending redemption to 16 subscribers of the fund (Lime Martini No. . It is known that the Financial Supervisory Service will check how Mirae Asset recommended Lime Martini 4 subscribers to repurchase through recordings, communication data, and internal documents, and what kind of conversations they exchanged with Lime during the repurchase process. In addition, it will be checked whether other Lime Fund subscribers other than Lime Martini No. 4 have been recommended for redemption.

According to the Financial Supervisory Service, Lime redeemed 306.9 billion won 먹튀검증(223 people) from 31 of 63 open-ended funds (funds that can be redeemed before maturity) in September 2019. Of the 31 funds, 27 funds were redeemed with its own funds, but it was revealed that Lime illegally mobilized and redeemed 4 funds (29 people), including Lime Martini 4. Regarding this, Rep. Kim is in the position of “normal repurchase according to the seller’s recommendation.” Mirae Asset also said, “At the time, it was a time when anxiety related to lime was growing, so I only recommended repurchase.”

“Mirae Asset clarification, there are many unclear parts”
Experts in the financial sector are in the position that “there are many uncertainties in Mirae Asset’s explanation.” First, it is pointed out that it is rare for Mirae Asset to recommend the redemption to all Lime Martini 4 subscribers at the same time. An official from a securities company said, “In the industry, it is customary to return open-end funds first when a person who wants them applies for redemption and not to pay special attention to the rest.” It may have been special management,” he said. When Lime ran out of money in the process of returning the investment money to subscribers of Lime Martini 4, Lime illegally mobilized the company’s own funds to meet the redemption date (a week after the application). Whether this illegal redemption took place without the knowledge of Mirae Asset, the seller, is likely to be subject to inspection by the Financial Supervisory Service.

In addition, if Mirae Asset recommended redemption because of anxiety about Lime at the time, as Mirae Asset explained, it is necessary to check whether Mirae Asset recommended redemption to other open Lime Fund subscribers.

It is known that the Financial Supervisory Service will also look into the investor recruitment process for Lime Martini No. 4. Many Lime funds have gathered subscribers through briefings, etc., but the fund is trying to confirm whether the promotion was carried out through a different route.

On the other hand, Lee Jae-myeong, representative of the Democratic Party, said on the 28th, regarding the suspicion of the preferential redemption of Lime Fund by Rep. Kim Sang-hee, “I think it is not the Financial Supervisory Service, but the ‘Financial Political Service’.” said.

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