The interim findings of an investigation into misselling allegations of rate-linked structured products have confirmed improper advice, according to the South Korean regulator.
The Financial Supervisory Service (FSS) conducted its investigation into two banks – Woori Bank and Hana Bank – three securities houses – NH Investment and Securities, IBK Securities and Hana Financial Investment – and five asset managers since late August. The interim results of the probe not only confirmed the mis-selling of the so-called derivative-linked securities (DLS), but also a lack of risk management and internal control capabilities of the financial institutio
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