All posts tagged "FSS"
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243UncategorisedKorea Regulators Probe Crypto Industry Over Terra Collapse
Korean crypto exchanges have been asked to share their data on UST and LUNA transactions including and the number of affected investors.
May 18, 2022 -
408Capital RegulationFSC Korea Directs Banks to Strengthen Capital, Risk Management
Banks are asked to strengthen loss absorption capacity, FX liquidity management, credit risk monitoring and bad debt provisioning.
May 12, 2022 -
311AML / KYCKorean Police Arrest Woori Employee for Embezzlement
The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.
May 3, 2022 -
469AML / KYCFSS Korea Launches Probe Over Shinhan Card Frauds
Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.
April 26, 2022 -
483Fintech / Regtech
Korea FSS Commences Inspections of Internet-only Banks
The FSS is set to conduct 779 regular or occasional inspections on financial firms throughout this year.
April 7, 2022 -
407Enforcement
Korea: FSC, FSS Relaunch Special Investigations Team
The team comprises officials from the FSC and FSS, who will be authorised to investigate illegal acts in the capital market more quickly.
April 6, 2022 -
436Capital Regulation
Korea to Allow Some Regulatory Relaxations to Expire in Three Months
Banks can continue to total LCR at 85% for three more months, following which the FSC will raise the total LCR requirement back to 100% in steps.
April 4, 2022 -
401KoreaKorea FSS Seeks Stronger Audit Regulations to Prevent Fraud
The FSS will examine 180 companies and 17 audit firms this year, while also enhancing its audit screening exercises and strengthening punitive sanctions.
March 31, 2022 -
470Capital RegulationFSS Korea Asks Insurers to Increase Loss Reserves
FSS governor Jeong Eun-bo has warned insurers of a possible "perfect storm" building for the industry, citing rising interest rates and the war in Ukraine.
March 28, 2022 -
695Capital Regulation
Korea FSS Asks Banks to Increase Bad Debt Reserves
The FSS said economic uncertainties both domestic and abroad have increased, making it unclear whether banks have sufficient loss absorbing capacity.
March 10, 2022
