Industrial Bank of Korea also has to suspend its private fund sales operations for 1 month. Discovery Asset Management and its CEO are suspended for 3 months.
February 21, 2022The FSS is also proposing to force Hana Bank executives and employees involved in DLF mis-selling to pay penalties.
February 1, 2022Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.
November 24, 2021Shinhan 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, 2021Deputy 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, 2021The 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, 2021Commonwealth Bank plans to plead guilty to making false or misleading representations to customers about insurance policies.
September 17, 2021Six 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, 2021An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
August 31, 2021Daishin Securities is asked to compensate investors up to 80% of losses after it missold funds managed by Lime Asset Management.
August 3, 2021