Dunamu, a key subsidiary operating the ‘Securities Plus Unlisted’, was sanctioned for not adhering to innovative financial service conditions. According to the financial industry today (19th), the Financial Supervisory Service announced it had imposed a fine of 24 million won on Dunamu yesterday. It was found that Dunamu did not comply with changes in the designation of innovative financial services related to Securities Plus Unlisted in March 2022 and June 2023.
Securities Plus Unlisted is an unlisted stock trading platform launched by Dunamu in November 2019 and was designated as an innovative financial service by the Financial Services Commission in April 2020. In March 2022, the designation was extended under the condition of strengthening investor protection to prevent general investors from purchasing additional specialized stocks.
However, from July 2022 to September 2024, the company did not comply with the investor protection plan, allowing general investors who already owned specialized stocks to buy more. Additionally, when the innovative financial service contents were changed in June 2023 to include linking with securities firm A, Dunamu did not report related inspection details to the Financial Supervisory Service before opening the system on July 27.
External to this, Dunamu, the operator of the virtual asset exchange Upbit, was recently imposed with a corporate tax and surcharge of 22.63 billion won following a tax investigation by the Seoul Regional Tax Office. Furthermore, Dunamu is also engaged in legal battles related to sanctions such as the reprimand warning of CEO Lee Seok-woo and the dismissal of the compliance officer by the Financial Intelligence Unit under the Financial Services Commission.
(Photo provided by Dunamu, Yonhap News)