All posts tagged "Mis-selling"
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147Australia & NZAustralian Treasury Bans ‘Conflicted’ Commissions Paid on LICs
Fund managers will be barred from paying fees to financial advisers and stockbrokers for selling listed investment companies and trusts.
May 25, 2020 -
430FeatureS. Korea Finalises Risk Management Rules for Private Equity Funds
Private equity funds will have to undergo regular audits, adopt new valuation guidelines, conduct regular liquidity stress tests, and cap leverage at 400% of assets, among other measures.
April 27, 2020 -
609KoreaKorea: IMF Assessment Highlights Pre-Covid Financial System Risk
The assessment commends Korea for its continued efforts to enhance prudential, legal and supervisory frameworks, while also pointing to growth-related uncertainties and household debt risks.
April 24, 2020 -
334EnforcementWoori Financial Chair Seeks Injunction Against FSS Santions
If the injunction is granted, it could clear the path for Woori Financial Group chairman Sohn Tae-sung to lead the group for another three-year term.
March 10, 2020 -
550Enforcement
Korea: Woori, Hana Barred from Selling PE Funds for Six Months
Woori Bank and Hana Bank are additionally being fined 19.71bn and 16.78bn won, respectively, for mis-selling of derivatives-linked funds.
March 4, 2020 -
461Enforcement
FSS Reprimands Woori, Hana Chiefs for Derivatives Mis-Selling
The FSS is also recommending a 20-billion-won penalty be imposed on both banks, and for some of their operations to be suspended for six months.
January 31, 2020 -
497IndiaSEBI Proposes Stricter Rules for Investment Advisers
The rules include higher net worth requirements, caps on advice fees, and client level segregation of investment advice from product distribution.
January 20, 2020 -
589EnforcementFSS to Conclude Probe into Derivatives Mis-selling This Week
The FSS will conclude its investigation into KEB Hana and Woori Bank this week. KEB Hana and its CEO are expected to face higher penalties for 'obstructing' the investigation.
October 28, 2019 -
1.1KEnforcementJPM, SocGen Earned $6.8mn on Money-Losing DLFs Sold in Korea
FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.
October 23, 2019 -
752Enforcement
FSC Korea to Boost Supervisory Capacity to Prevent Mis-selling
The FSC will reportedly increase the number of banking, financial investment and asset management experts it has on staff for inspections of banks, security firms and insurers.
October 21, 2019
