Reports emerged last week that Korea's Hana Bank has been severely disciplined by the country's financial regulator, Financial Supervisory Service, for offering false guarantees on a W19 billion ($19 million) private placement it issued last year.

Regulators reported that for several months last year, Hana officials falsely used the CEO's stamp on documents insuring an annual 24% interest rate. Local media reported that two bankers were arrested, one of whom committed suicide in August.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.