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FSS Chief Warns Asset Managers on Misleading ETF Ads; 42.4% Cite 'Copy-Paste' Disclosure on July 13

2026-07-13 00:51:23

According to Yonhap Infomax, South Korea's Financial Supervisory Service chief Lee Chan-jin met with CEOs of 20 asset management companies on July 13 to address regulatory concerns. Lee criticized misleading ETF advertisements and product imitation as harmful to investor trust, while highlighting persistent issues with proxy voting disclosures. An FSS inspection of 285 asset managers found that 121 companies (42.4%) used formulaic language such as 'minimal shareholder impact' in at least half of their voting reports. Lee instructed firms to enhance disclosure procedures and strengthen internal controls, noting that proxy exercise rates improved from 79.6% in 2024 to 91.8% in 2026.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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