Financial Supervisory Service (FSS) Governor Lee Bok-hyun strongly criticized banks over their possible mis-selling of equity-linked securities (ELS) products, as large-scale losses are expected during the first half of next year due to the plunge of the Hang Seng China Enterprises Index (HSCEI).
Financial Supervisory Service (FSS) Governor Lee Bok-hyun strongly criticized banks over their possible mis-selling of equity-linked securities (ELS) products, as large-scale losses are expected during the first half of next year due to the plunge of the Hang Seng China Enterprises Index (HSCEI).
Heads of financial authorities have once again called on domestic financial groups to take on greater social responsibility, pressuring the companies to lower the burden on small and medium-sized business owners stemming from soaring interest rates.
The Financial Supervisory Service (FSS) has vowed to take stern measures against listed companies that do not follow through on their publicly announced business plans. The financial watchdog called it an illegal act impairing the trust of the domestic capital market.
The ruling People Power Party and financial authorities have announced plans to apply the same conditions for the local short selling system for both retail and institutional investors.