One firm was fined KRW 360mn for failing to borrow KRW 13mn worth of stock prior to short-selling, a penalty of more than 27 times the amount short-sold.
September 22, 2020The FSS will ease restrictions on external access to network systems at local financial firms, in line with new norms amid the Covid-19 pandemic.
September 22, 2020Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.
August 27, 2020The FSS reportedly wants to determine why redemptions in some structured notes linked to Singapore trading firms have been frozen.
August 10, 2020The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.
July 31, 2020Optimus Asset Management CEO Kim Jae-hyun misappropriated investor funds to personally invest in stocks, futures and options since 2018.
July 24, 2020K Bank’s recapitalisation plan was halted last April, forcing Korea’s first internet-only bank to stop offering loan products. It is now looking to regain ground lost to Kakao Bank.
July 23, 2020Any misconduct detected during the probe will be referred to prosecutors and follow-up efforts will be made to protect investors. The probe is expected to continue until 2023.
July 21, 2020The key changes will strengthen disclosure rules, prohibit unfair sales activities, restrict sales of high-risk investment products, and impose limits on loans and investments.
July 21, 2020Large losses on leveraged positions at Hong Kong-based Gen2 Partners earlier this year prompted a liquidity squeeze and a freeze on early redemptions.
July 7, 2020