The Financial Supervisory Service cut the penalty surcharge for banks' misselling of Hong Kong H-Index equity-linked securities (ELS) to the 600 billion won range, down from about 1.4 trillion won.
According to the financial sector on the 4th, the Financial Supervisory Service held a provisional sanctions review committee that day and decided the level of the penalty surcharge for Hong Kong ELS.
Earlier, the Financial Services Commission sent back to the Financial Supervisory Service a 1.4 trillion won sanctions proposal, asking for supplements to certain facts, applicable laws, and legal reasoning. The result of the sanctions review that day is expected to be finalized after a Financial Services Commission resolution.
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