All posts tagged "Mis-selling"
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387FeatureHKMA Publishes Interim Report on Front Office Incentives Review
Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.
November 24, 2021 -
358EnforcementKorea FSS Punishes 3 Brokerages Over Lime Asset Mis-selling
Shinhan Investment and KB Securities were ordered to suspend parts of their operations for six months. Daishin Securities was ordered to close a branch.
November 16, 2021 -
145Australia & NZCBA Pleads Guilty to Mis-Selling Consumer Credit Insurance
Deputy chair Sarah Court said ASIC pursued a criminal case against CBA after it was clear customers had been sold insurance that they had no use for.
November 2, 2021 -
290EnforcementFSS Korea to Appeal Ruling in Favour of Woori Chairman
The appeal will follow a court decision to nullify an FSS decision to ban Woori Financial Group chairman Sohn Tae-seung for three years.
September 21, 2021 -
243Australia & NZCBA Faces Criminal Charges Over Consumer Credit Insurance Sales
Commonwealth Bank plans to plead guilty to making false or misleading representations to customers about insurance policies.
September 17, 2021 -
243EnforcementS. Korean Financial Firms Push Back Against Executive Accountability
Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.
September 16, 2021 -
231Enforcement
Seoul Court Rules Against FSS in DLF Mis-selling Case
An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
August 31, 2021 -
180EnforcementKorea: Daishin Securities Ordered to Compensate Lime Investors
Daishin Securities is asked to compensate investors up to 80% of losses after it missold funds managed by Lime Asset Management.
August 3, 2021 -
138EnforcementKorea FSS Orders IBK to Compensate Investors Over Mis-sold Funds
The FSS said IBK failed to adequately inform customers of potential high risks and lacked internal controls to monitor the selling process.
May 27, 2021 -
269FeatureNew Investor Protection Regulations Take Effect in Korea
South Korean financial institutions are required to record the sales process and implement a cooling-off period for complex investment products.
May 13, 2021
