Search results for Hong Kong H Index
Finance
Decision on Hong Kong ELS fines for banks nears ahead of FSC meeting
A decision on fines for banks over mis-selling of Hong Kong H-index-linked equity-linked securities (ELS) is nearing, with expectations focused on the Financial Services Commission\'s regular meeting on April 15. The fine amount has already been sharply reduced from about 4 trillion won to about 1.4 trillion won. Further cuts of up to 75 percent are possible under financial consumer protection rules, and views differ inside the commission on additional reductions.
Finance
FSS to fine five banks 1.3 to 1.4 trillion won over mis-selling of Hong Kong ELS
South Korea\'s Financial Supervisory Service decided to impose fines totaling 1.3 trillion to 1.4 trillion won on five banks for mis-selling equity-linked securities tied to the Hong Kong H Index. The amount is 500 billion to 600 billion won below the roughly 2 trillion won previously notified. The regulator also lowered institutional sanctions from a business suspension to a warning and reduced penalties for executives and staff by 1 to 2 levels.
Finance
FSS chief urges banks to curb household debt and strengthen consumer protection
Lee Chan-jin (이찬진), head of South Korea\'s Financial Supervisory Service, met chief executives of 20 domestic banks and called for stronger consumer protection and internal controls. He urged stable management of household debt and steps to channel bank funds into productive sectors. He also told banks to reassess high-risk product sales practices amid ongoing controversy over Hong Kong H-index equity-linked securities. Lee urged proactive governance reforms and said oversight would shift to a preventive, consumer-protection-focused approach.
