At the '2024 FinnAcademy' financial forum, Mr. Moon explained that the financial authorities are preparing to introduce an accountability structure system to prevent financial accidents in accordance with the revised Financial Company Governance Act. To prevent accidents such as incomplete sales of high-risk products and large-scale embezzlement, Mr. Moon emphasized the need to clarify the responsibilities of each executive to prevent the transfer of responsibility and hold the CEO accountable.
Moon said the accountability structure will be implemented in July, with financial holding companies and banks given a six-month grace period. He pointed out that the CEO, as the final head of internal control, should take responsibility in the event of organizational problems and establish an internal control committee within the board of directors to check management measures and reporting systems, criticizing the practice of holding only lower-level executives accountable, which leads to repeated accidents.