Korea Banks Risk Record $1.4 Billion Fine on Equity-Linked Notes

South Korea’s financial watchdog has sent a preliminary notice to five banks over improper sales of equity-linked securities, which local media reported could result in some $1.4 billion of penalties.

The regulator has sent out the notice to Standard Chartered Korea, KB Kookmin Bank, Shinhan Bank, KEB Hana Bank, NH Nonghyup Bank, the Financial Supervisory Service told Bloomberg News Friday.