The revisions will make the existing rules simpler and less prescriptive, allowing financial firms more room to make decisions autonomously.
Banking Act amendments will make it easier for regional banks to convert into nationwide commercial banks, to promote competition in the banking industry.
Taiwan travelers with electronic wallets linked to any of 13 financial institutions can pay South Korean merchants by scanning their TWQR code.
Listed companies will no longer be allowed to receive allocations of treasury shares from corporate spin-offs.
The amendments allow jail and fines for arrangements, inducements, recommendations, or advertising that leads to insurance fraud.
Whistleblower reports can also be filed anonymously, to better protect reporters of unfair transactions and market misconduct.
Users can report unfair trades, not just frauds and scams. Reporting process, investigation support and coordination to also improve.
Asset management firms, mutual savings banks and credit unions will be eligible to participate in MSB auctions and repo transactions with the central bank.
Unregistered investment advisors are allowed to operate online chatrooms, but only to provide "non-specific investment advice" to a "general audience".
FSS governor criticised the brokerage industry for its heavy reliance on risky and speculative real estate project financing activities.
Loading more posts...
Sorry, no more posts
No more pages to load