Measures to prevent repeat of Samsung Securities dividend payout error include new real-time monitoring system, tighter controls at securities firms, tougher penalties.
May 29, 2018Park Hyeon-joo will head up the group’s global investment strategy even as the firm is under investigation for unfair trading practices.
May 28, 2018Loan collateral can include movable assets such as intellectual property, claims on future sales, half-finished goods, machinery, inventory, raw materials and electronic appliances.
May 24, 2018Korea Federation of Banks has submitted a draft proposal to the FSC which includes written exams for candidates, document screening by external agencies and blind interview processes.
May 18, 2018South Korea to soften cryptocurrency policy, apply FATF standards; central bank to release recommendations by end of June.
May 17, 2018South Korean prosecutors have raided the country’s largest cryptocurrency exchange UPbit, seizing hard drives and accounting books; second largest exchange Bithumb also on FSC radar.
May 14, 2018Tighter regulations will apply to financial affiliates of five major conglomerates Samsung, Hyundai Motor, Hanwha, Lotte and DB, as well as affiliates of Kyobo Life Insurance and Mirae Asset Daewoo.
May 11, 2018FSC to dedicate committee of experts to assessing banking, insurance, securities licenses; aimed at boosting transparency, efficiency, lowering entry barriers.
May 3, 2018Internet only banks must be at least 50 percent owned by a traditional lender, and subject to the same capital requirements.
April 30, 2018Cryptocurrencies to be regulated under new AML rules before a bilateral AML evaluation by APG in November; banks ordered to label crypto exchange accounts as ‘high risk’.
April 23, 2018