All posts tagged "FSC"
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78Fintech / RegtechFSC Korea Opens Applications for New MyData Licences
MyData businesses will allow financial firms and fintechs to offer financial advice to customers using the data they make available through the MyData platform.
July 14, 2020 -
672EnforcementTaiwan FSC Fines Chang Hwa Bank Over Client Theft
A Chang Hwa Bank consultant was found to have used over $2mn of client money to make up losses for other clients over a ten year period.
July 11, 2020 -
111Capital Regulation
Taiwan FSC Proposes Rules Changes for Foreign Bank Branches
The FSC proposes to allow loan loss provisions and reserves to be used in calculating net worth, accumulated losses and total deposits, which have a bearing on lending capacity.
July 7, 2020 -
805EnforcementS. Korean Regulators to Probe All Private Fund Operators
A new inter-agency team, led by the FSS, will be established by mid-July, and refer any illegalities detected to authorities for 'swift action' including prosection.
July 5, 2020 -
1.2KAML / KYC
Taiwan Financial Firms Call for KYC Rule Changes
Taiwanese financial firms are asking the FSC to allow identity authentication methods other than the unwieldy government-issued Citizen Digital Certificates.
July 4, 2020 -
305Enforcement
FSC Korea Introduces Legislative Revisions on Predatory Lending
The maximum annual interest rate will be limited to 6%, compared to 24% under the current law. Maximum penalties will also be raised.
July 2, 2020 -
486EnforcementKorea: Optimus Asset Management Ordered to Suspend Business
Company executives will be removed and designated administrators will take over their duties. Optimus is accused of fabricating depository statements sent to brokers.
July 1, 2020 -
297Securities & TradingTaiwan FSC to Introduce Measures to Catalyse IPO Market
The Covid-19 pandemic has affected companies' financial performance in the first half of the year, making them ineligible to list on the stock market.
June 30, 2020 -
414Capital RegulationKorean Banks Opt to Adopt Basel III Credit Risk Framework Early
Fifteen banks and eight bank holding companies opted to adopt the Basel III credit risk framework early as it will boost their capital adequacy ratios.
June 30, 2020 -
270Capital RegulationKAMCO Starts Buying Overdue Retail Loans from FIs
Korean lenders may sell non-collateralised delinquent personal debt to KAMCO, which in turn will take over the debt and help debtors restructure.
June 29, 2020
