[Securities Firms' Homeplus Commercial Paper] Potential multi-trillion-won indemnity dispute among securities firms draws attention

The dispute over Homeplus commercial paper is widening as the Financial Supervisory Service prepares sanctions.

A court is examining not only sales liability but also whether the product structure itself was flawed, especially the use of underlying assets without legal recovery rights.

That raises the chance of a separate recourse lawsuit between Shin Young Securities, which structured and issued the deal, and Hana Securities, which only sold it.

If the structure is found defective, the fight could expand from investor compensation to a multibillion-won battle among securities firms.