Banks advised to enhance risk management on surging ETF sales
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The country's financial watchdog called on local lenders Thursday to heighten their risk management for exchange-traded funds (ETFs) and prevent the misselling of such products amid a recent surge in sales of the financial products. The Financial Supervisory Service (FSS) said sales of ETFs by banks to their customers have been on a sharp rise in tandem with a bull run on the local stock market. The banks' combined ETF sales amounted to 15.1 trillion won ($10.2 billion) in the first two months o
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