Yuanta and Uni-President fined for 'misleading' Taiwan ETF adverts

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Regulator criticises use of phrases such as 'interest falls like rain' and 'uninterrupted cash flow'

Taiwan's Financial Supervisory Commission has fined Yuanta Funds and Uni-President Asset Management for using unsuitable advertising in the promotion of their high-dividend exchange traded funds, which broke fundraising records earlier this year.

Yuanta Funds, Taiwan's largest local ETF issuer, has been fined NT$900,000 ($27,864) for the inappropriate advertisement of its Yuanta Funds' Taiwan Value High Dividend ETF, according to an announcement from the FSC's Securities and Futures Bureau.view more