The FSS has estimated that 160bn won of investor funds has vanished and only up to 15% of the remaining 350bn won could be recoverable.
November 12, 2020Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.
November 3, 2020Unlicensed advisers are barred from giving one-on-one investment advice to clients, but chat rooms have been serving as platforms for illegal consulting.
October 27, 2020The Korea Financial Telecommunications and Clearings Institute will start operating a central registry for P2P transaction data from 1 May 2021.
October 26, 2020The Supreme Court ruled that 27 of Woori's employees were involved in unfair hiring practices, 19 of which still work for the bank.
October 21, 2020Subject to FSC approval, the FSS will revoke Lime's business registration and order the company to dismiss its CEO, who was arrested in July.
October 21, 2020Samsung Securities allegedly intervened to secure support from shareholders of a Samsung entity for a 2015 merger while also acting as adviser to the other party in the transaction.
October 19, 2020The proposed sanctions may include a ban on former and current CEOs of three brokerage firms from working in the financial industry for up to five years.
October 8, 2020Under the HKMA's sandbox, Fusion Bank will provide savings and time deposits, local fund transfers, payments, and become the first virtual bank to offer FX services.
October 6, 2020The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.
September 30, 2020