Korea Herald]Financial watchdog to penalize KEB over foreign operations

[제목]
Financial watchdog to penalize KEB over foreign operations

financial : 금융의
watchdog : 감시인, 감시 단체
penalize : 처벌하다
operation : 영업

[게시 일자]10.03.18

[본문]
Korea's financial watchdog is set to penalize the Korea Exchange Bank over wrongdoing by the lender's overseas operations, officials said Thursday, according to Yonhap News.

set : 정하다, 결정하다 = arrange
wrongdoing : 범법행위
lender : 대출기관
official : (고위)공무원, 임원

The Financial Supervisory Service held a monthly disciplinary board meeting and decided to give KEB an "institutional warning," holding the bank accountable for lax regulation of overseas branches, the FSS officials said.

The Financial Supervisory Service : 금융관독원 ※ supervisory: 감독(상)의, 관리(상)의
disiplinary board meeting : 징계위원회  ※ disciplinary : 징계의
institutional : 기관의
hold : (무엇이 사실이라고)생각하다, 간주하다
accountable : (해명할) 책임이 있는
lax : (일, 규칙, 규정들에 대해) 느슨한, 해이한
regulation : 단속
branch : 지사

In January, KEB's two Japanese branches in Osaka and Tokyo received a three-month ban on deposits, lending and remittance operations by the local regulator Financial Service Agency, which concluded the Korean units issued bank balance statements in violation of rules governing illegal money laundering in 2007.

ban on : ~에 대한 금지(법, 명령)

deposit : (은행) 예금

remittance : 송금

regulator : 단속기관

financial service : 금융정보서비스기관

Korean units : 한국군

issue : 발표하다

statement : 진술, 서술

violation : 위반

governing : 통치하는(지배하는), 운영하는(관리하는)

money laundering : 돈 세탁

"Having received the heavy penalty, the Korea Exchange Bank will face disadvantages when setting up new foreign branches," one official said.

heavy penalty : 중징계

face disadvantages : 불이익을 당하다

An institutional warning limits KEB's entry or investment into other financial sectors. The FSS decision needs final approval to take effect.

entry : 가입, 입회
investment : 투자액
sector : (특히 국가경쟁 활동)부문, 분야
take effect : 효력을 발휘하기 시작하다