- Regulators to start an investigation into 12 banks and brokers
- Authorities unsure if investors understood the product: FSS
South Korea’s regulator will launch a wider probe into local banks and brokers which sold exotic notes linked to Chinese stocks amid concerns that the securities may saddle investors with heavy losses.
Authorities will start investigating 12 institutions on Monday to determine if there was any wrongdoing over the sale of equity-linked securities that are tied to the Hang Seng China Enterprises Index, according to a statement from the Financial Supervisory Service. KB Kookmin Bank and Korea Investment & Securities Co. are among the firms that will be probed, it added.
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