The new rules imposing stricter requirements on leverage, cross trading, sales practices and risk management, among other areas.
March 23, 2021The 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, 2021Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.
February 5, 2021The minimum required capital will be raised from 100mn to 300mn won. Private equity funds with high leverage will need 500mn won.
February 4, 2021Woori Bank, Busan Bank and Industrial Bank of Korea have reportedly agreed to pay restitution to investors based on estimated damages.
January 26, 2021The FSS said it will impose sanctions on companies identified as being engaged in such practices, including to refer cases for criminal prosecution as needed.
January 5, 2021The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.
November 13, 2020Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.
November 3, 2020Subject to FSC approval, the FSS will revoke Lime's business registration and order the company to dismiss its CEO, who was arrested in July.
October 21, 2020The 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