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[Alpha Biz=(Chicago) Reporter Kim Jisun] The Financial Supervisory Service has completed a survey of sales banks until last week and compares the results of concerns over massive losses to the Hong Kong Hang Seng China Business Index (H Index) Stock-Linked Securities (ELS). To check if there were any overall problems in the sales process, there is a possibility that a massive inspection will begin in January next year if the loss is confirmed.
According to financial authorities on the 14th, the FSS is reviewing the results of Kookmin Bank's on-site survey completed on the 8th and the results of a written survey of other major selling banks such as Shinhan, Hana, Woori and Nonghyup Bank. In particular, a comparative analysis of the survey is being conducted on major items such as decision-making processes, key performance indicators (KPI) policies, and customer responses related to the selection of ELS sales products.
When the loss of the Hong Kong H Index ELS begins to be confirmed in January next year, we are considering conducting the inspection by referring to the survey. Kookmin Bank, which is subject to regular inspections next year and the largest seller of the Hong Kong H Index ELS, is the first target to be mentioned.
The losses are growing and the situation is urgent If judged, the banks may be subject to frequent inspections. It has yet to be decided whether it will be a regular inspection or an occasional inspection, but it is expected that it will be carried out on a large scale than the previous on-site survey.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
