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KEB Hana Bank to compensate fund customers for up to 65% of losses
StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go
Street Talk – Episode 69: Banks left with pockets full of cash and few places to go
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South Korea's KEB Hana Bank has started the process of compensating some fund customers for 40%, 55% or 65% of losses attributed to its alleged misselling of derivatives-linked fund products, The Chosun Ilbo reported, citing the bank.
The Financial Supervisory Service's Financial Dispute Mediation Committee issued compensation criteria to KEB Hana Bank on Jan. 15.
The bank has set up an ad-hoc committee to determine the amount of compensation for fund investors.