All posts tagged "FSS"
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297KoreaS. Korea FSC Revises Supervisory Regulation on Insurance
The foreign exchange position limit of insurance companies will be increased from 20 percent to 30 percent of the total adjusted capital.
March 17, 2021 -
265EnforcementWoori Accepts FSS Compensation Guideline for Lime Losses
Woori will compensate investors who lost money from funds managed by Lime Asset Management in line with FSS recommendations.
March 16, 2021 -
533EnforcementS. Korea Amends Bill to Protect Private Equity Fund Investors
The revision bill addresses issues with feeder funds, cross investing between PEFs managed by the same entity, and inappropriate sales activities involving coercive sales tactics.
March 12, 2021 -
258EnforcementKorean Bankers Grow Fearful of ‘Unilateral’ Regulatory Penalties
Korea Federation of Banks chairman says the punishments imposed against executives whose banks sold Lime funds are seen by many as a way to shift blame.
March 11, 2021 -
263EnforcementFSS Chief Faces Resignation Calls over Personnel Management
Yoon Suk-heun, whose three-year term ends in two months, allegedly promoted certain officials who had been punished for hiring irregularities.
March 10, 2021 -
172KoreaKorea FSS to Issue New Risk Management Guidelines for Insurers
South Korean insurers recorded a combined loss of KRW 194.4 billion from overseas alternative investments due to the pandemic.
February 26, 2021 -
258Enforcement
FSS Korea Orders Woori, IBK to Compensate Lime Investors
The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
February 25, 2021 -
252Capital Regulation
FSC Korea to Enhance Recovery and Resolution Regimes of SIFIs
SIFIs will have 3 months after designation to submit recovery plans to regulators. The FSC will have the authority to demand action from a SIFI in line with its recovery plan.
February 21, 2021 -
255EnforcementKorea FSS Seeks Prosecution of Hana Financial CEO
The regulator said it discovered illegal trading activities by CEO Lee Jin-kuk during an inspection of Hana Financial Investment last year.
February 9, 2021 -
277Enforcement
Korea FSS to Punish Top Woori, Shinhan Executives – Report
Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.
February 5, 2021
