SEOUL, Mar. 11 (Korea Bizwire) – The financial regulator on Monday unveiled a set of plans that advise banks and brokerages to compensate losses from derivative products tracking Chinese stocks listed on the Hong Kong exchange. The Financial Supervisory Service (FSS) said its preliminary inspection, conducted for two months since Jan. 8, has verified “various [...]
SEOUL, Jan. 7 (Korea Bizwire) – The financial regulator said Sunday that it will launch an investigation into sales of derivative products that track Chinese stocks listed on the Hong Kong exchange, amid concerns that such products would put investors at risk of posting heavy losses. The inspection into 12 local banks and brokerages will [...]
VALLETTA, Malta, Oct. 6 (Korea Bizwire) – OKEx, a world-leading cryptocurrency spot and derivatives exchange, is enhancing its partnership with skew, by adding a second dashboard on the platform where users can view Ether trading data from OKEx, including trading volume of ETH futures, perpetual swaps and options. OKEx is the first exchange to launch a real-time [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea’s financial watchdog said Thursday that two local banks should provide compensation for up to 80 percent of their customers’ losses from a recent misselling of derivatives linked to overseas interest rates. The arbitration committee of the Financial Supervisory Service recommended the compensation rate of 40-80 percent to [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Korea’s financial regulator on Thursday unveiled a raft of measures to better protect consumers in the wake of improper sales of derivatives linked to overseas interest rates that carry the risk of losing nearly all the money invested in them. Under the measures, banks will be banned from [...]
SEOUL, Nov. 5 (Korea Bizwire) — The number of private funds in South Korea has fallen sharply over the past three months in the wake of alleged trading irregularities and a liquidity crisis at a major player, data showed Tuesday. The country’s privately placed funds, including private equity funds and hedge funds, totaled 11,177 as [...]
SEOUL, Oct. 1 (Korea Bizwire) — South Korea’s financial regulator said Tuesday it has discovered 790 suspected cases of improper sales of derivatives linked to overseas interest rates that carry the risk of losing nearly all the money invested in them. Announcing an interim outcome for its 40-day probe into banks and brokerages that sold [...]
SEJONG, Jan. 7 (Korea Bizwire) — South Korea said Monday that it will impose a 10 percent tax on profits from trading all stock index-related derivatives in the latest move to revise the country’s tax code. The revision — set to take effect in April — covers the KOSDAQ 150 Futures, KOSDAQ 150 Options and [...]