Claims of mis-selling remain as FSS lambasts distributors for lack of suitability and appropriateness checks.

South Korea’s Financial Supervisory Services (FSS) has slammed the lack of protection for financial customers during the sales process of equity-linked securities (ELS) tracking the Hang Seng China Enterprises Index (HSCEI) as one of the causes driving up financial troubles last year. ‘Excessive sales goals, inappropriate KPI design, formal committee operation, [and] poor sales system’ are among the causes that led to weak internal control and acted as a cause of incomplete sa