Major banks have initiated measures to ensure smooth resolutions to compensate investors who suffered substantial losses from Hong Kong-tied equity-linked securities (ELS), following the lenders acceptance of dispute resolution guidelines set by financial authorities.
Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Following company board meetings held earlier in the day, KB Kookmin Bank and Shinhan Bank announced they would car.
South Korean bankers misrepresented risky China-linked notes to retirees, financial watchdog says scmp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scmp.com Daily Mail and Mail on Sunday newspapers.
(Bloomberg) South Korea’s financial watchdog said it found a range of instances where some of the country’s largest brokers misrepresented risky China-linked structured products to retail investors, many of whom are retirees.Most Read from BloombergThese Are the Best Countries for Wealthy ExpatsOne of the Most Infamous Trades on Wall Street Is Roaring BackSlow US Inflation Retreat Is Set to Bolster Fed Patience on Rate CutsBond Investors Are Lining Up to Fund the War Against PutinAn investiga
The possible reelection of former U.S. President Donald Trump would leave the baseline rate cut profile of the Bank of Korea (BOK) unstable due largely to heightened economic, trade and foreign exchange uncertainties, a report said Thursday.