Korea

The FSC has officially declared support for the TCFD, applied for NGFS membership, and launched a new consultative body with state-backed FIs on green finance.

Participation by the brokerage firms as market makers will help reduce bid-ask spreads and keep Korea's emissions trading market liquid.

The revisions will ease approval processes for financial investment businesses, including foreign firms, while also increasing penalties for stock manipulation.

The BOK plans to use existing authorities to monitor crypto transactions, amid fears that risks in the sector could flow to the broader financial system.

Financial investment businesses are required to establish internal control standards to prevent information sharing of material nonpublic information between units.

The fund will be 45% funded by state-backed financial institutions, while the rest of the investment will come from the private sector.

South Korean financial institutions are required to record the sales process and implement a cooling-off period for complex investment products.

Under an MoU, the SSE and KRX will work towards ETF cross-listings, joint development of indices, and stronger cooperation in the bond market.

Lawmakers are pushing for tougher crypto legislation to protect crypto investors against unfair practices and price manipulation.

The FSC has announced additional support for SMEs, low-rated companies, and corporate bond and CP issuers.