FSS gave asset managers hours to pull ETF ads

South Korea's Financial Supervisory Service ordered asset managers to halt advertising for single-stock leveraged exchange-traded funds with only a few hours' notice, an unusually abrupt directive that left promotional campaigns in place over the weekend, industry sources said Monday.

The FSS sent the notice late Thursday after the Financial Services Commission, the FSS and the Korea Exchange jointly unveiled measures to tighten oversight of the products.

The notice instructed firms to "immediat ...