Bank workers say initiative is likely to compromise quality of services.
Country found to fully meet 12 of 14 risk-based capital regulations; compliant with LCR rules.
Market has raised concerns over robo-adviser’s performance.
FSC has introduced tougher credit rules on group borrowing; household debt now $1.13tn.
Mechanism including API will remove need for financial technology firms to sign individual contracts.
FSC’s new regulation will allow Korean brokerages to pursue more IPOs.
New rules favouring large firms encourage should invite mergers.
Change needed to become competitive in Asian markets
Partnership to enable information sharing between FCA and Korea’s FSC on fintech regulation.
FSC proposes to revise banking laws, allow IT firms to have controlling stakes.
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