Korea
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692Korea to Ban Foreigners from Cryptocurrency Trading Accounts
Editors, Regulation Asia December 18, 2017Government has made abrupt about turn to legitimize cryptocurrencies by bringing them under greater regulatory purview.
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852EU Blacklists S.Korea, Macau Tax Regimes; HK on ‘Greylist’
Garima Chitkara December 7, 2017HK on 'greylist'; Macau, S.Korea, on blacklist with the latter said to operate a ‘harmful preferential tax regime’ for the wealthy, companies.
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South Korea to Write off $5.7bn in Personal Debt
Editors, Regulation Asia November 30, 2017People’s Happiness Fund will purchase more than half the debt, remainder will be written off using private sector funds.
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Korea to Launch New OTC Market for Professional Investors
Editors, Regulation Asia November 20, 2017Existing OTC platform has not been successful due to institutional investors’ concerns about having to give details of their trading strategies.
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Korean Firms Launch ‘World 1st’ Blockchain-based Authentication
Garima Chitkara November 9, 2017Financial Investment Association says Chain ID is a world first, authentication only has to be performed once every three years.
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Korea Introduces ‘Sarbanes Oxley’ in Response to Accounting Scandals
Samuel Riding November 2, 2017Move is part of President Moon Jae-in’s Chaebol clean-up campaign, follows proposal to make agencies liable for ‘defective ratings’.
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Korea Efforts to Tackle Household Debt Have Little Impact as Boom Continues
Editors, Regulation Asia September 21, 2017Regulator calls on banks to strictly screen mortgage applications as household debt increases by $15.9bn over July and August.
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S.Korea to Curb Bank Chief Bonuses
Samuel Riding September 4, 2017Only 60% of bonuses to be paid up front, remaining 40% to be paid out over three years but can be cut or clawed back if investments lose money.
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Korea Toughens Short-selling Rules
Samuel Riding August 28, 2017Measures are expected to sharply increase incidences of excessive short selling; new categories of offence come with heavier maximum penalty.
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S.Korea Eyes Deregulation to Encourage Banking Competition
Samuel Riding August 23, 2017FSC to come up with deregulation plan by end-of year; wants more challengers to financial sector incumbents after approval of internet-only banks.
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