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, 2020Fifteen 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, 2020Ping An OneConnect Bank is inviting 200 SMEs and 2,000 retail customers to pilot test its virtual banking services in the HKMA's sandbox.
June 26, 2020Accused of fabricating depository statements, Optimus Asset Management has suspended withdrawals from six feeder funds since last week, locking up 90bn won in investor money.
June 26, 2020South Korea is introducing a cross-agency task force to monitor for illegal loan sharking activities and an alert system to detect predatory loan advertisements.
June 25, 2020The FSS is considering conducting reviews of some 40 fintech companies after eight unauthorised transactions were detected on Viva Republica's payments platform Toss.
June 12, 2020Twenty firms, including banks and brokers, will set up a new entity to manage the estimated 1.7tr won in assets frozen by Lime Asset Management since October.
June 11, 2020The HKMA has published its observations of good practices used by authorised institutions to mitigate the potential risks of new technology adopted for remote onboarding.
June 4, 2020FSS governor Yoon Suk-heun said financial firms should brace for a "prolonged fallout of Covid-19" and focus on boosting internal reserves and loss absorbency capacity.
May 27, 2020Higher expected capital adequacy under the internal ratings-based approach for calculating risk-weighted assets will help to fuel M&A activity at the bank.
May 20, 2020