NH Investment & Securities has been designated as a comprehensive financial investment business entity (investment brokerage firm) eligible to operate integrated investment accounts (IMA).
The Financial Services Commission said it held a regular meeting on the afternoon of the 18th and reviewed and approved an agenda item designating NH Investment & Securities as an investment brokerage firm with equity capital of 8 trillion won or more.
The Financial Services Commission (FSC) determined that NH Investment & Securities satisfied all legal requirements, including equity capital, personnel and physical facilities, internal controls, and conflict-of-interest prevention systems.
Following Korea Investment & Securities Co. and Mirae Asset Securities, which were designated earlier, NH Investment & Securities has also become an investment brokerage firm with 8 trillion won or more in equity capital, increasing the number of domestic IMA operators to three.
An IMA is a product in which a securities firm integrates and manages funds entrusted by customers across corporate loans, venture companies, stocks, and bonds, and pays the returns to investors. It is one of the key systems for expanding the supply of venture capital in the capital market.
An official at the Financial Services Commission (FSC) said, "These securities firms are expected to respond to various funding needs of corporations, including the supply of venture capital."
With this designation as an investment brokerage firm, NH Investment & Securities plans to further strengthen competitiveness across its investment banking (IB) business—including corporate finance, structured finance, and venture capital investment—based on its operating experience in the paper CP business and the stable performance of its IB institutional sector.
Yun Byeong-un, CEO of NH Investment & Securities, said, "The designation as an IMA operator goes beyond a simple business expansion and plays an important role in expanding productive finance in the capital market," adding, "We will actively pursue the discovery of promising corporations and expand venture capital investment to contribute to the growth and vitality of the capital market."