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Regulator’s BioLogics probe ends up inconclusive

June 02,2018
Korea’s financial regulator wrapped up its review of a regulatory probe into whether Samsung BioLogics violated accounting rules, officials said Friday.

Details of the review were not disclosed due to a confidentiality agreement, but the review apparently failed to reach a consensus because there were some “majority and minority opinions” about the case, the Financial Services Commission said.

The review came after financial authorities gave a preliminary notice earlier last month to Samsung BioLogics that it broke accounting rules in 2015, a charge that the company has strongly denied.

The outcome of the review will be delivered to the Securities and Futures Commission, which will hold a meeting on Thursday to try to reach a final ruling.