Korea

The policy seeks to improve fairness and transparency, and protect consumers from newly emerging financial crimes.

The revisions will allow sandbox participants to file requests to the FSC and other relevant authorities for changes to regulations.

The FSC is setting up a special financial response team and new monitoring system to root out speculation in the property market.

An FSS arbitration panel has advised NH Investment to pay full compensation to two investors for failing to properly explain the risks of Optimus funds.

A dual-class share system would help more unicorns to consider listing in the local market, KRX chairman Sohn Byung-doo says.

Illegal short sellers can face fines of up to 100% of the amount of the short selling order, imprisonment for a year or more, and additional penalties up to five times unfair profits.

The FSC will introduce new monetary sanctions and strengthen supervision on loan agreements to prevent predatory lending.

A Shinhan Bank employee has died after being shot in the head by Myanmar's military forces. Meanwhile, local private banks are being fined for remaining closed.

Effective from 30 June, the framework for the supervision of non-holding financial groups will help enhance the management of group-wide risks.

The FSC says credit support measures for SMEs will be maintained at it will minimise the impact of rating downgrades.