All posts tagged "National Assembly"
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652EnforcementKorea to Introduce Civil Penalties for Unfair Trading
Currently, unfair trading activities are punishable under criminal law, but prosecutions often take a long time due to the high burden of proof required.
September 21, 2020 -
647Korea
Korea to Extend Short Selling Ban Six More Months
During the six-month extension, the FSC plans to strengthen penalties for illegal short-selling and improve retail investor access to stock short sales.
August 28, 2020 -
310Capital RegulationS. Korea Progresses Bill on Financial Conglomerate Supervision
The bill provides the legal basis for the supervision of non-holding financial groups such as Samsung, Hanwha, Kyobo, Mirae Asset, Hyundai Motor, and DB.
August 26, 2020 -
755AML / KYCPakistan Legislature Progresses Five FATF-related Bills
Pakistan has taken another step towards its removal from the FATF grey list with the passage of five new bills in the National Assembly.
August 18, 2020 -
286KoreaRecord Korea Budget to Support Corporate Bond-buying
The supplementary budget will cover a 1tr won capital injection for an SPV that will purchase low-rated corporate bonds and commercial paper.
July 8, 2020 -
617KoreaKorea Development Bank Act Amended to Enable Bailout Fund
Aid recipients will have to maintain staff in employment and refrain from dividend payouts, share buybacks and executive compensation.
May 5, 2020 -
474KoreaS. Korea Enhances Flexibility for Financial Investment Businesses
The legislative revisions will allow firms greater flexibility to implement Chinese walls and outsource key functions, while allowing for harsher penalties when issues arise.
May 5, 2020 -
1.2KAML / KYCS. Korea Passes New Regulatory Framework for Crypto Sector
The 'Special Financial Information Law' authorises Korean financial regulators to oversee the crypto industry and develop AML rules in line with the FATF recommendations.
March 11, 2020 -
699Enforcement
Korea Progresses Financial Consumer Protection Bill
The bill, approved by the national policy committee, contains six sales regulations to be applied to all financial products and establishes a legal basis for penalising firms in violation.
November 28, 2019 -
660Fintech / Regtech
Korea to Establish Legal Basis for Cryptocurrency Investment
A bill passed by the national policy committee will subject digital asset businesses to penalties for not meeting FATF standards in their oversight systems for preventing money laundering.
November 27, 2019
