Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 324

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 324
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 of W1,800 million for certain employees’ violation of conflict of interest obligations in connection with the Lime Asset incident and a fine of W1,160 million for violation of rules against advertising certain money trust products. In 2022, the Korea Exchange imposed a total of four penalties on Shinhan Securities for regulatory violations, totaling W2.0 million in fines. In 2022, the Financial Supervisory Service imposed a total of four penalties against Shinhan Securities for regulatory violations, totaling W600.9 million in fines. In November 2023, the Financial Services Commission imposed a fine of W50 million on Shinhan Securities for alleged violations of the Act on Corporate Governance Of Financial Companies. In 2023, the Financial Supervisory Service imposed a total of six penalties against Shinhan Securities for regulatory violations, totaling W2.26 billion in fines. In March 2024, the Financial Services Commission imposed a fine of W42 million on Shinhan Securities for allegedly failing to confirm the information provided to customers when selling financial investment products. In June 2024, a fine of W80 million was imposed for alleged violations of program controls that requires availability testing of authentication system in the mobile trading system. In October 2024, the Financial Services Commission imposed a fine of W100 million for the failure to provide adequate training to individual retirement pension subscribers. Additionally, in 2024, the Financial Services Commission imposed a penalty of W808 million on Shinhan Securities for alleged violations of the obligation to submit a securities registration statement as required for the offer of certain derivative-linked securities.

In January 2020, the Financial Supervisory Service notified Shinhan Life Insurance of an institutional caution and imposed an administrative fine of W266 million for allegedly omitting certain information regarding the level of expenses deducted from premiums paid when selling savings insurance products over the telephone. The Financial Supervisory Service imposed a fine of W 80 million on Shinhan Life Insurance in January 2024 for alleged violations of insurance rate calculation principles and management standards for essential documents. In May 2024, the Financial Supervisory Service imposed a fine of W25.2 million on Shinhan Life Insurance for allegedly failing to fulfill the duty to explain, along with an additional penalty of W25 million. In November 2024, the Financial Supervisory Service imposed a penalty of W192 million for alleged violations related to the solicitation of insurance contracts. In February 2021, the Financial Supervisory Service notified Shinhan Bank of an institutional warning and imposed an administrative fine of W2