All posts tagged "KDIC"
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822EnforcementSeoul Court Declares Lime Asset Management Bankrupt
Investors lost an estimated KRW 1.7 trillion. Lime Asset Management has a reported KRW 520 billion in debt, compared to just KRW 19 billion in assets, which will be liquidated.
February 24, 2022 -
751EnforcementFSC Korea Cancels Business Licence of Optimus Asset Management
The FSC has also fined Optimus and ordered board member removals, over "numerous counts of violations and inappropriate fund management activities".
November 26, 2021 -
523KoreaSouth Korea Divests Key Stake in Woori Financial Group
State-operated KDIC will no longer be the largest shareholder of Woori Financial Group, 23 years after the group was created in a government bailout.
November 24, 2021 -
239Capital / LiquidityKorean Cabinet Approves Rules on SIFI Resolution Plans
SIFIs will be required to prepare recovery and resolution plans and submit them to the FSS within three months from being designated.
June 23, 2021 -
354Capital / LiquidityFSC 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 -
381Fintech / RegtechS. Korean Law to Help Reverse Mobile Payments Made in Error
New legislation set to take effect in July will task the KDIC with helping users of mobile payment apps to retrieve funds that are transferred in error.
February 17, 2021 -
947Enforcement
Korea 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 -
1.1KEnforcement
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 -
986Capital / LiquidityKDIC to Enhance Defences Against Defaults by Financial Firms
The Korea Deposit Insurance Corp will upgrade its risk assessment and monitoring system in 2019 to protect against the credit risks of financial firms.
December 14, 2018
