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Revision of Enforcement Decree of FSCMA Approved at Cabinet Meeting

    Revision of Enforcement Decree of FSCMA Approved at Cabinet Meeting

    September 27, 2011
  • The proposed revision of the Enforcement Decree of the Financial Investment Services and Capital Markets Act (FSCMA), amied at introducing home-grown hedge funds (tentatively named "specialized private equity funds") to Korea's capital markets, was approved at the cabinet meeting on Tuesday, September 27, 2011.

    *Please read the attached file for details.


  

FSC Suspended Seven Mutual Savings Banks

    FSC Suspended Seven Mutual Savings Banks

    September 18, 2011
  • The FSC held a provisional meeting today and decided to suspend business operations of seven mutual savings banks - Jeil, Jeil II, Prime, Daeyeong, Ace, Parangsae, and Tomato - for six months.

    *Please read the attached file for details.


  

FSC Chairman Gives Keynote Speech at the Economist Conference

    FSC Chairman Gives Keynote Speech at the Economist Conference

    September 15, 2011
  • FSC Chairman Kim Seok-dong attended The Bellwether Series: South Korea hosted by the Economist Intelligence Unit under the theme “The future of finance in Asia-Pacific” at the Grand Hyatt Seoul on September 15, 2011 to deliver his keynote address “Korea’s Financial Sector Development and Key Policies Ahead.”

    *Please read the attached file for details.


  

  

FSC/FSS to Host 18th Annual Conference of the IAIS

    FSC/FSS to Host 18th Annual Conference of the IAIS

    September 09, 2011
  • The Financial Services Commission and the Financial Supervisory Service of Korea (FSC/FSS) will host the 18th Annual Conference of the International Association of Insurance Supervisors (IAIS) from September 29 to October 1, 2011, at the COEX Convention Center in Seoul.

    *Please read the attached file for details.


  

Hotline Established among Financial Authorities in Korea, China and Japan

    Hotline Established among Financial Authorities in Korea, China and Japan

    September 05, 2011
  • FSC Vice Chairman Shin Je-Yoon will be hosting a vice-minister-level conference call on September 6 at 10 am with China Banking Regulatory Commission (CBRC) and the Financial Services Agency (FSA) of Japan.

    *Please read the attached file for details.


  

Temporary Ban on Short Selling

    Temporary Ban on Short Selling

    August 09, 2011
  • The FSC has decided to temporarily ban short selling of all listed stocks in the Korea Exchange and Kosdaq markets for three months from August 10 to November 9.

    *Please read the attached file for details.


  

Revision Bill of the Financial Investment Services and Capital Markets Act

    Revision Bill of the Financial Investment Services and Capital Markets Act

    July 26, 2011
  • The FSC has drafted a revision bill of the FSCMA, made public for 20 days from July 27 to August 16.

    *Please read the attached file for details.


  

Approval for Opening BBVA's Seoul Branch

    Approval for Opening BBVA's Seoul Branch

    July 20, 2011
  • Pursuant to Article 58 of the Banking Act, the FSC has approved BBVA’s application to open its branch in Seoul. With KRW 3 billion in capital A (initial operating capital), its Seoul branch will run banking business with focus on corporate lending and trade finance.

  

Plans for the Soundness of Savings Banks' Management

    Plans for the Soundness of Savings Banks' Management

    July 04, 2011
  • *Please read the attached file for details.

  

Guidelines on Covered Bond Issuance

    Guidelines on Covered Bond Issuance

    June 30, 2011
  • The FSC/FSS set up guidelines on the issuance of covered bonds by banks, as one of follow-up measures to implement the Comprehensive Measures on Household Debt. The guidelines are intended to provide a framework for covered bond issuances, diversifying banks’ financing instruments and encouraging banks to offer more long-term and fixed-rate mortgage loans instead of short-term and floating-rate ones.

    *Please read the attached file for details.