Yuanta and Uni-President fined for ‘misleading’ Taiwan ETF adverts

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Financial Times 13h ago

Yuanta and Uni-President fined for ‘misleading’ Taiwan ETF adverts - Financial Times

Quick Summary:

Chu Yueh-Chung, assistant professor at the department of finance of the Southern Taiwan University of Science and Technology, told Ignites Asia earlier this year that fund houses have been engaging in “completely unscrupulous” marketing activities.

In May, the Securities Investment Trust and Consulting Association published an updated code of conduct for asset managers’ advertising and business activities.*Ignites Asia is a news service published by FT Specialist for professionals working in the asset management industry.

Uni-President AM was also fined NT$600,000 for inappropriate promotion of its UPAMC Taiwan High Dividend Momentum ETF, which raised NT$53.1bn raised in early March in its initial fundraising.