All posts tagged "FSS"
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205AML / KYCFSC Korea Meets Crypto Exchanges Over Regulatory Reforms
The meeting focused on the operational difficulties faced by firms as they try to meet new regulatory requirements by a 24 September deadline.
June 7, 2021 -
194AML / KYCKorea Designates FSS as Agency to Regulate Virtual Assets
The FSS will oversee the crypto industry, including in relation to AML rules imposed by the Act on Reporting and Using Specified Financial Transaction Information.
June 3, 2021 -
120EnforcementKorea FSS Orders IBK to Compensate Investors Over Mis-sold Funds
The FSS said IBK failed to adequately inform customers of potential high risks and lacked internal controls to monitor the selling process.
May 27, 2021 -
449Korea
FSC Korea Advances Initiatives to Respond to Climate Risk
The FSC has officially declared support for the TCFD, applied for NGFS membership, and launched a new consultative body with state-backed FIs on green finance.
May 26, 2021 -
176EnforcementKorea FSS Imposes Light Punishments on Shinhan Execs
Shinhan Bank's CEO and Shinhan Financial Group's Chairman received lighter punishments than expected over the Lime mis-selling scandal.
April 26, 2021 -
288EnforcementMirae Asset Sues Shinhan Over Lime Fund Losses
Shinhan Bank has separately been ordered to repay up to 75 percent of investments it sold in Lime's credit insured funds.
April 22, 2021 -
337AML / KYCFSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’
The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.
April 21, 2021 -
273Korea
Korea to Root Out Speculation in Real Estate Market
The FSC is setting up a special financial response team and new monitoring system to root out speculation in the property market.
April 10, 2021 -
288EnforcementNH Investment Asked to Fully Compensate Optimus Investors
An FSS arbitration panel has advised NH Investment to pay full compensation to two investors for failing to properly explain the risks of Optimus funds.
April 9, 2021 -
322Korea
New Rules for Private Equity Funds Take Effect in Korea
The new rules imposing stricter requirements on leverage, cross trading, sales practices and risk management, among other areas.
March 23, 2021
