The Financial Supervisory Service (FSS) plans to improve accountability at financial companies by requiring them to clarify who is in charge of what.
Monitoring of alternative investments by brokerages will be strengthened from March as the country’s financial authorities strive to better manage risks.
The rush for yield has driven securities firms into dangerous waters, with trillion of their won and the won of their clients invested in risky assets overseas.
KB Securities has been ordered to make restitution for up to 80 percent of some investments made in Lime Asset Management funds.
The FSS announced Thursday that it has spotted illegal or dubious business practices at several private equity firms during the course of planned inspections at those firms, including setting up fraudulent funds and bribery.
Gov. Yoon Suk-heun of the Financial Supervisory Service (FSS) emphasized that the financial watchdog needs to be an independent body with its own budget to better serve its role, during an online press conference held Wednesday.
Insurance fraud cases hit a record high in the first half of the year, in part influenced by the economic fallout of the Covid-19 pandemic, according to the Financial Supervisory Service (FSS) on Tuesday.
A government meeting on macroeconomics is being held without officials from the Financial Supervisory Service (FSS) on Tuesday in central Seoul.
Foreigners net purchased 6.1 trillion won ($5.6 billion) worth of stocks from Korea-listed companies in November alone, reporting the biggest net purchase since September 2013.
Brokers are recording earnings as a trading boom boosts commission income.