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Irresponsible financial sellers

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Watchdog should clarify where responsibility for losses lies

People who invested more than 800 billion won ($661 million) into a derivatives-linked fund (DLF) are about to lose their principal. The Financial Supervisory Service has decided to launch a joint inspection of securities companies that designed the financial product and the banks that sold it.

In principal, investors should take responsibility for investing into derivatives products that incur losses. However, the financial authorities should investigate possible "mis-selling" by banks through underestimating risks and........

© The Korea Times