Higher 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, 2020The legislative revisions will allow firms greater flexibility to implement Chinese walls and outsource key functions, while allowing for harsher penalties when issues arise.
May 5, 2020FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year's derivative product mis-selling at banks.
April 29, 2020South Korea's FSS has reportedly instructed the Seoul branch of JP Morgan Securities to strengthen its internal controls on inter-subsidiary relations.
April 22, 202019 banks and securities firms will likely comprise the new entity, which will be charged with acquiring and selling the assets of Lime Asset Management’s funds.
April 21, 2020South Korean regulators are advising companies and auditors to consider government relief measures as risk-reducing when determining expected credit losses.
April 13, 2020Financial services workers delivering emergency support funds to businesses in need will be exempt from misconduct sanctions.
April 9, 2020The FSS has been applying AI to monitor insurance telemarketing, loan collections and online advertising, as well as to analyse complaints and PE fund reports.
April 9, 2020Financial institutions are providing loan maturity extensions, interest payment deferment and low-cost loans to small business hit by Covid-19.
April 2, 2020P2P lending caps are being lowered to protect investors against potential defaults and delinquencies caused by the Covid-19 crisis.
April 1, 2020