Suspicions of 'ETF Promotion' at Mirae Asset Securities... Financial Supervisory Service Begins Written Investigation

Investigation Expands from Asset Management Firms to Securities Companies

Financial authorities are expanding their investigation into the suspected preferential treatment of exchange-traded funds (ETFs) from asset management companies to securities firms.

According to the financial investment industry on the 15th, the Financial Supervisory Service (FSS) recently launched a written investigation into Mirae Asset Securities regarding the ETF push allegations.

Earlier, political circles raised suspicions that sales companies such as banks and securities firms prioritized selling ETFs from their affiliated asset management companies and pushed the volume.

In addition, on the 13th of this month, the FSS began written investigations into Mirae Asset Global Investments, KB Asset Management, Korea Investment Management, and Samsung Asset Management.

So far, no securities firms other than Mirae Asset Securities are known to have received requests for data submission from the FSS. However, the FSS is expected to sequentially request data submissions from other securities firms in the future.