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.
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https://en.infomaxai.com/news/articleView.html?idxno=93088

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.
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https://en.infomaxai.com/news/articleView.html?idxno=91106

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