[Infostock Daily=Reporter Lee Ji-sun] The Financial Supervisory Service has decided that Woori and Industrial Bank of Korea should compensate for the loss of investment in Lime Funds at 65-78%.
The Financial Supervisory Service said on the 24th that it held a dispute settlement committee on the 23rd and decided on the ratio of damages. The Financial Supervisory Service has decided that two banks should compensate three Lime Funds victims for their losses on the dispute settlement committee.. The compensation rates ranged from 65% to 78%.
For the rest of the cases that are not submitted to the committee, voluntary compensation should be disbursed between 40% and 80% of the losses.
The basic compensation rate has been set slightly lower in the banking sector than in securities firms. KB Securities, which received the dispute settlement order last year, were ordered to compensate the victims at the rate of 60%, while Woori Bank were order to pay 55% and Industrial Bank of Korea were ordered to pay 50%.
"In general, investors, who purchased Lime Funds through banks, are older and conservative than customers of securities firms," the financial authorities said. "The average compensation rate for banks will be higher than that of securities firms as customers of the banks preferred principal guarantees.".
Reporter Lee Ji-sun stockmk2020@gmail.com
