All posts tagged "FSS"
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Korea
Korea FSS to Issue New Risk Management Guidelines for Insurers
South Korean insurers recorded a combined loss of KRW 194.4 billion from overseas alternative investments due to the pandemic.
February 26, 2021 -
26EnforcementFSS Korea Orders Woori, IBK to Compensate Lime Investors
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
February 25, 2021 -
63Capital RegulationFSC Korea to Enhance Recovery and Resolution Regimes of SIFIs
SIFIs will have 3 months after designation to submit recovery plans to regulators. The FSC will have the authority to demand action from a SIFI in line with its recovery plan.
February 21, 2021 -
78EnforcementKorea FSS Seeks Prosecution of Hana Financial CEO
The regulator said it discovered illegal trading activities by CEO Lee Jin-kuk during an inspection of Hana Financial Investment last year.
February 9, 2021 -
111Enforcement
Korea FSS to Punish Top Woori, Shinhan Executives – Report
Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.
February 5, 2021 -
103Capital RegulationKorea Raises Capital Requirements at Private Equity Funds
The minimum required capital will be raised from 100mn to 300mn won. Private equity funds with high leverage will need 500mn won.
February 4, 2021 -
110Enforcement
Korea FSS to Order Banks to Compensate Lime Fund Investors
Woori Bank, Busan Bank and Industrial Bank of Korea have reportedly agreed to pay restitution to investors based on estimated damages.
January 26, 2021 -
180EnforcementFSS Korea to Probe Samsung Securities for Regulatory Violations
The FSS will look into whether loans granted to executives violated the capital market law and whether the firm influenced a merger involving one of its subsidiaries.
January 11, 2021 -
209EnforcementKorea FSS Identifies More Fraud, Bribery at Private Equity Firms
The FSS said it will impose sanctions on companies identified as being engaged in such practices, including to refer cases for criminal prosecution as needed.
January 5, 2021 -
111Korea
Korea to Lower Max Interest Rate on Loans in H1 2021
A new enforcement decree will take effect in February 2021, lowering the maximum interest rate on loans from 24% to 20%.
December 30, 2020
