All posts tagged "FSC"
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7AML / KYCKorean Crypto Exchanges Start to Close Amid Regulatory Pressure
Up to 11 cryptocurrency exchanges in Korea are planning to shut down after their deposit accounts were linked to fraudulent activities.
August 5, 2021 -
34TaiwanTaiwan FSC Issues Guidelines on Bank Inspections
The FSC says a key objective of the guidelines is to introduce innovative technology including big data analysis into the inspection process.
August 3, 2021 -
37Australia & NZASIC Offers Guidance on Deferred Sales Model for Add-on Insurance
Starting on 5 October, a four-day pause will be introduced between the sale of a principal product or service and the sale of add-on insurance.
August 2, 2021 -
64Fintech / RegtechKorea FSC Expands Open Banking Services to Fintechs
Users will be able to access information about their prepaid deposit accounts from mobile applications of any FI offering open banking.
July 30, 2021 -
71AML / KYC
FSC Finds VASP Deposit Accounts Linked to Fraudulent Activity
Crypto exchanges in Korea are required to use bank accounts under their real names. Third party bank accounts are not allowed.
July 29, 2021 -
73AML / KYCTaiwan FSC Fines Taishin Int’l Bank for Oversight Failures
A Taishin customer relationship manager stole TWD 347 million from nine customers over more than a decade by asking them to sign blank transfer forms.
July 26, 2021 -
74AML / KYCKoFIU Notifies Foreign VASPs of Their Obligation to Register
Foreign VASPs that continue to target Korean customers after 24 September without registering with KoFIU will be subject to penalties in Korea.
July 23, 2021 -
99Fintech / Regtech
S. Korea: MyData Launch to be Delayed for More Testing
The Covid-19 pandemic and a lack of IT engineers are said to be stalling system development and API testing.
July 17, 2021 -
63Korea
FSC Korea to Delay Implementation of New Audit Requirement
The FSC will postpone for one year the requirement for stock companies' consolidated internal accounting control systems to undergo an external audit.
July 16, 2021 -
62Korea
FSC Korea Grants Initial Nod for New Credit Rating Businesses
The granting of new credit information business licences is expected to facilitate the introduction of new models for credit evaluation.
July 15, 2021
