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Problem-ridden PEFs

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Fund managers, sellers should pay price for deceiving investors

The Financial Dispute Settlements Committee has told banks and brokerages to fully return the principal of investments to customers of mis-sold funds run by Lime Asset Management.

This is the first time for the arbitration panel, under the Financial Supervisory Service (FSS), to decide that financial companies have to return 100 percent of the principal to their customers. The unprecedented decision shows that deception of investors practiced by fund managers has reached an unacceptable level. If the fund managers and sellers had duped and deceived innocent........

© The Korea Times