All posts tagged "FSS"
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881EnforcementFSS Korea to Launch Probe Into Samsung Securities
Samsung 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, 2020 -
735EnforcementKorea FSS to Penalise Brokerage CEOs Over Lime Asset Mis-selling
The 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, 2020 -
1.8KFeatureFusion Bank Kicks Off Virtual Banking Soft Launch
Under 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, 2020 -
538EnforcementSeoul Court Sentences Ex-Shinhan Exec to Eight Years’ Jail
The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.
September 30, 2020 -
613FeatureKorea Considers Capping Margin Lending, Underwriting Fees
Interest rates on margin accounts vary between 4.5% and 9%; underwriting fees vary between 1% and 6% of the total value of the shares.
September 29, 2020 -
827Asia-PacificKorea, Thailand Sign MoU on Financial Services Regulation
The agreement will help enhance supervisory efficiency and promote innovation through experience sharing, technical assistance and exchange of information.
September 25, 2020 -
968KoreaKorea FSS Calls on Financial Sector to Disclose Climate Risks
The FSS plans to release guidelines on the disclosure of environmental information and develop a tool to stress test financial resilience to climate risk.
September 24, 2020 -
634EnforcementKorea FSS Finds Banks Failing to Inform Borrowers of Rights
Since June 2019, banks have been required to inform customers of their right to request lower interest rates when their credit profiles improve or their assets increase.
September 23, 2020 -
577EnforcementKorea FSS Fines Four Foreign Fund Managers for Naked Short Selling
One firm was fined KRW 360mn for failing to borrow KRW 13mn worth of stock prior to short-selling, a penalty of more than 27 times the amount short-sold.
September 22, 2020 -
738KoreaKorea 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
