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Stock impact report

Watchdog Says Bankers Misrepresented Risky China-Linked Notes to Korean Retirees [Yahoo! Finance]

KB Financial Group Inc (KB) 
US:NYSE Investor Relations: kbfg.com/eng/ir/main/ir_main.jsp
Company Research Source: Yahoo! Finance
Most Read from Bloomberg These Are the Best Countries for Wealthy Expats One of the Most Infamous Trades on Wall Street Is Roaring Back Slow US Inflation Retreat Is Set to Bolster Fed Patience on Rate Cuts Bond Investors Are Lining Up to Fund the War Against Putin An investigation into five banks and six brokerages uncovered poor regulatory compliance and systematic failures regarding the sale of complex financial products linked to the Hang Seng China Enterprises Index, the Financial Supervisory Service said on Monday. Losses from the popular notes are seen totaling 5.8 trillion won ($4.4 billion) this year, if the index remains at the current level, it said. Regulators will take further steps such as imposing fines, taking into account how much compensation the financial firms provide to customers and efforts made in regaining their confidence, it said. The announcement follows a months-long investigation by the FSS into some of the nation's most prominent retail lend Show less Read more
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