All posts tagged "FSS"
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575EuropeNo-Deal Brexit to Have Little Impact on S. Korea, says FSS
If the UK crashes out of the EU without an orderly exit deal in place, the damage to South Korea’s economy will be slight, according to the Financial Supervisory Service.
February 22, 2019 -
568Fintech / RegtechS Korea Proposes New Legal Framework for P2P Sector
South Korea’s booming P2P lending market is in need of new legislation to enhance protections for investors and borrowers, says FSC chairman Choi Jongku.
February 13, 2019 -
360KoreaS. Korean Regulators Require More Transparency on Bank Loans
New rules requiring disclosures to customers of credit assessment procedures and loan rate calculations have been introduced by South Korean regulators.
January 23, 2019 -
540Fintech / RegtechS. Korea to Accept Internet-Only Bank Applicants in March
Two new internet banks will be granted preliminary regulatory approval by May, allowing them to provide loans to consumers, households and SMEs, but not to corporates.
December 24, 2018 -
530Capital Regulation
S. Korea to Adopt IRRBB Standards in Mid-2019
The FSS plans to revise banking supervision bylaws during Q1 2019, with implementation of IRRBB at domestic banks expected in mid-2019.
December 21, 2018 -
511EnforcementKorean Regulators Become Latest Signatories to IOSCO EMMoU
South Korea's FSC and FSS have jointly become the 10th member of IOSCO's EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.
December 7, 2018 -
377Capital Regulation
S. Korean Financial Holding Companies Opposed to Bail-in Regime
The financial holding companies say that a bail-in regime could lead to lower credit ratings and higher bank funding costs, based on an implied reduction in government support during a crisis.
November 28, 2018 -
716Enforcement
S. Korea Probes JPMorgan, Citibank in Unresolved Rate Rigging Cases
JPMorgan and Citibank are still being investigated in an ongoing price manipulation probe by the Fair Trade Commission and FSS which dates back to 2011, reports local media.
November 6, 2018 -
519Enforcement
S. Korea Scales Up Stabilisation Fund as Market Hits 22-Month Low
The 500 billion won fund will start investing in the KOSDAQ from November. Separately, market participants will establish an emergency monitoring system to better respond to instability.
October 30, 2018 -
395Korea
FSS Unveils Measures to Boost Internal Controls, Compliance Staff at FIs
The measures, though not yet finalised, follow recent concerns about stock trading systems at financial institutions in South Korea.
October 18, 2018
