Shinhan Bank ordered to make restitution for some Lime losses
Shinhan Bank has been ordered to make restitution for up to 75 percent of some investments made in Lime Asset Management funds.
The decision was delivered by the Financial Dispute Settlement Committee of the Financial Supervisory Service on Tuesday.
Lime, which was once the largest hedge fund in the country, halted withdrawals from some funds in late 2019.
The regulator has been mediating disputes between fund sellers and investors by picking out exemplary cases. For Shinhan Bank, the committee asked it to reimburse 69 percent and 75 percent of investments into Lime Credit Insured funds for two investors, respectively.
The decision, however, is not legally binding.
BY KIM JEE-HEE [email@example.com]