In relation to the Derivatives Combined Fund (DLF), which caused massive principal losses, it was found that 2,700 investors were compensated for about 60% of the losses from the selling bank.
The Financial Supervisory Service decided to finalize the DLF dispute settlement procedure next month after reviewing the complaints that have not yet been resolved and the facts investigations being underway.
According to the Financial Supervisory Service, 2,710 (94.4%) of the 2,870 investors whose losses were confirmed due to the DLF incident as of the end of last month agreed to self-adjustment (self-compensation) with Hana and Woori Banks, which are sales companies.
The total amount of compensation received by investors was 234.9 billion won, accounting for 58.4% of the total loss (42.4 billion won).
Considering that in the past dispute settlement cases, the compensation ratio was generally in the 20-30% range, it is evaluated that a relatively high level of compensation was made in relation to the DLF incident.
63 cases (2.2%) of complaints by investors for which voluntary compensation with banks were not reached.
Investors are not satisfied with the compensation ratio suggested by the bank, or there is a dispute over whether or not the registration documents are forged.
In the end, if the contact point for compensation is not found, the investor is expected to go through steps such as a contract invalidation lawsuit, not dispute settlement.
Since the DLF maturity recently returned, there were 97 (3.4%) disputes still pending facts.
The Financial Supervisory Service has decided to induce an early conclusion of the voluntary compensation process, which is still in progress, and decide whether to close the complaints that have not yet reached an agreement, and conclude the DLF dispute settlement process by the end of this year.
It has been one year since the Financial Supervisory Service held a Dispute Mediation Committee for six representative complaints received in connection with the DLF incident in December last year and decided to compensate 40-80% of the investment loss.
At that time, the 80% compensation ratio was the highest in the history of dispute settlement.
For the first time, the fact that excessive sales at the bank headquarters level and poor internal control led to large-scale incomplete sales, which caused social controversy, was reflected in the compensation ratio for the first time.
Since the FSS decision was made, Hana Bank and Woori Bank have gone through self-mediation procedures for the remaining disputes based on the case.
The Financial Supervisory Service is planning to refer to the types of compensation complaints and compensation ratios in the DLF dispute settlement in order to establish future dispute plans for private equity funds such as Lime and Optimus.
The Financial Supervisory Service is reviewing ways to increase the possibility of agreement between investors and financial companies by increasing the basic compensation ratio and reducing the range of compensation ratios adjusted according to cases.