All posts tagged "FSS"
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634KoreaKorea FSS to Ease Restrictions on External Network Access
The FSS will ease restrictions on external access to network systems at local financial firms, in line with new norms amid the Covid-19 pandemic.
September 22, 2020 -
1.3KFintech / RegtechNew P2P Lending Legislation Takes Effect in Korea
Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.
August 27, 2020 -
1.5KKorea
Korea: FSS to Probe Frozen Notes Linked to Singapore, Hong Kong
The FSS reportedly wants to determine why redemptions in some structured notes linked to Singapore trading firms have been frozen.
August 10, 2020 -
1.5KEnforcementS. Korean Regulators Apologise for Private Fund Losses
The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.
July 31, 2020 -
1.2KEnforcementKorea: Optimus Asset Management Accused of Fraud, Embezzlement
Optimus Asset Management CEO Kim Jae-hyun misappropriated investor funds to personally invest in stocks, futures and options since 2018.
July 24, 2020 -
1.5KCapital RegulationKorean Regulators Approves K Bank Recapitalisation Plan
K Bank’s recapitalisation plan was halted last April, forcing Korea’s first internet-only bank to stop offering loan products. It is now looking to regain ground lost to Kakao Bank.
July 23, 2020 -
736EnforcementKorea FSS Formally Launches Probe Into Private Funds Industry
Any misconduct detected during the probe will be referred to prosecutors and follow-up efforts will be made to protect investors. The probe is expected to continue until 2023.
July 21, 2020 -
1.3KFintech / Regtech
FSC Korea Revises Guidelines for P2P Lending Firms
The key changes will strengthen disclosure rules, prohibit unfair sales activities, restrict sales of high-risk investment products, and impose limits on loans and investments.
July 21, 2020 -
1.4KEnforcement
FSS Korea Considers Legal Action Against HK Hedge Fund
Large losses on leveraged positions at Hong Kong-based Gen2 Partners earlier this year prompted a liquidity squeeze and a freeze on early redemptions.
July 7, 2020 -
1.0KEnforcement
S. Korean Regulators to Probe All Private Fund Operators
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, 2020
