The FSC will cap illiquid investments at 50% for open-ended funds, require them to conduct regular stress tests, raise transparency of complex fund structures, and enhance supervisory monitoring.
February 15, 2020The FSS is also recommending a 20-billion-won penalty be imposed on both banks, and for some of their operations to be suspended for six months.
January 31, 2020The FSS will reorganise its consumer protection department to boost supervision of high-risk financial products, and establish suptech and regtech teams.
January 24, 2020The sale of highly complex derivative products will still be banned, but banks will be allowed to sell equity-linked trusts linked to the KOSPI 200, S&P 500, Euro Stoxx 50, HSCEI or Nikkei 225.
December 16, 2019The FSS will conclude its investigation into KEB Hana and Woori Bank this week. KEB Hana and its CEO are expected to face higher penalties for 'obstructing' the investigation.
October 28, 2019FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.
October 23, 2019The FSC will reportedly increase the number of banking, financial investment and asset management experts it has on staff for inspections of banks, security firms and insurers.
October 21, 2019KEB Hana Bank is said to have deleted data related to the sale of derivative-linked funds after the FSS had already declared its intent to conduct inspections at the bank.
October 17, 2019An FSS probe into alleged unfair trading has triggered investor redemptions which Lime Asset Management has not been able to meet.
October 11, 2019The FSS is outlining compensation guidelines and initiating dispute mediation proceedings for investors who lost money in derivative-linked funds.
September 23, 2019