In January 1998, ING Securities offered a corporate customer the scheme by which the customer could delay the realization of the loss incurred by the note purchased from ING Securities. It turned out that, at the time of offering, the note had no value.
The acts above are found to violate the Article 2 (úA) of the Ordinance of the Cabinet Office Concerning the Regulations, etc. of Conducts of Securities Companies and the Article 50 (1) (úE) of the Securities and Exchange Law applied based on the Article 17 (1) of the Law on Foreign Securities Firms
