Yonhap Infomax NewsNov 28
The Financial Supervisory Service has issued preliminary notices of fines totaling about 2 trillion won ($1.54 billion) to five major banks over the alleged misselling of Hong Kong-linked ELS products, with final sanctions to be determined in June.
#YonhapInfomax #FinancialSupervisoryService #EquityLinkedSecurities #KBKookminBank #FinancialConsumerProtectionAct #2TrillionWonFine #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=93088
FSS Issues Preliminary Notice of 2 Trillion Won Fine to Five Banks Over Hong Kong ELS Sales

The Financial Supervisory Service has issued preliminary notices of fines totaling about 2 trillion won ($1.54 billion) to five major banks over the alleged misselling of Hong Kong-linked ELS products, with final sanctions to be determined in June.

Yonhap Infomax
Yonhap Infomax NewsNov 17
South Korea's financial regulator is moving to strengthen consumer protection by holding asset managers accountable from the product design stage, potentially amending the Financial Consumer Protection Act to prevent blame-shifting and align with EU standards.
#YonhapInfomax #FinancialSupervisoryService #FinancialConsumerProtectionAct #LeeChanJin #AssetManagers #MiFIDII #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=91106
[Lee Chan-jin's Approach to Consumer Protection] 'Only Products You'd Sell to Your Family'—Will the Financial Consumer Protection Act Hold Asset Managers Accountable?

South Korea's financial regulator is moving to strengthen consumer protection by holding asset managers accountable from the product design stage, potentially amending the Financial Consumer Protection Act to prevent blame-shifting and align with EU standards.

Yonhap Infomax
Yonhap Infomax NewsApr 16, 2025
Financial authorities struggle to determine sanctions for banks' incomplete sale of Hong Kong H-index ELS, facing ambiguity in fine criteria under Financial Consumer Protection Act
#YonhapInfomax #HongKongELS #FinancialSanctions #BankingIndustry #FinancialConsumerProtectionAct #RegulatoryUncertainty #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=58858
Hong Kong ELS Penalty of 'Up to 8 Trillion Won' - When Will the Stalled Sanctions Resume?

Financial authorities struggle to determine sanctions for banks' incomplete sale of Hong Kong H-index ELS, facing ambiguity in fine criteria under Financial Consumer Protection Act

Yonhap Infomax