Ruling Party and Government Discuss Retaining Financial Services Commission—No Plans to Establish Financial Supervisory Commission
South Korea's ruling party and government are in talks to retain the Financial Services Commission, deciding against creating a separate Financial Supervisory Commission.
South Korea’s top policy official says the government’s overhaul of the Financial Services Commission resolves longstanding issues by separating policy and supervisory functions, despite market concerns over increased regulatory complexity.
#YonhapInfomax #FinancialServicesCommission #PolicyReform #FinancialSupervision #ConsumerProtection #GovernmentRestructuring #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=80838
Policy Chief Says Financial Regulator Overhaul Resolves Longstanding Policy and Supervision Issues
South Korea’s top policy official says the government’s overhaul of the Financial Services Commission resolves longstanding issues by separating policy and supervisory functions, aiming to clarify roles and address regulatory overlap.
Can Financial Policy and Supervision Be Fully Separated? Market Turmoil Concerns Mount
South Korea will dismantle its Financial Services Commission and split policy and supervisory functions among four agencies, raising concerns over market confusion and weakened crisis response.
Rhee Chang-yong Calls for Expanded Bank of Korea Authority Over Joint Inspections and Investigations of Non-Bank Institutions
Bank of Korea Governor Rhee Chang-yong urges greater authority for the central bank in joint inspections and investigations of non-bank financial institutions, highlighting regulatory gaps.
Innovation Party - 'Ministry of Economy and Finance Should Be Split into Three - Budget Office, Public Institution Management Committee, and Treasury Department'
Innovation Party proposes splitting Ministry of Economy and Finance into three departments, aiming to reform budget allocation and financial supervision amid criticism of excessive power concentration.
Lotte Card Faces Significant Loan Defaults Related to Rental Company Factoring
Lotte Card faces significant loan defaults related to rental company factoring, with losses estimated in hundreds of billions of won amid internal control concerns and ongoing FSS inspection.
Lee Bok-hyun - 'Jong-ryong Lim Should Complete His Term as Chairman... Governance Must Not Be Shaken'
FSS Governor Lee Bok-hyun urges Woori Financial Chairman Lim to complete term amid governance concerns, emphasizes strict evaluation of recent controversies
Financial regulators and industry leaders collaborate to enhance corporate governance through specialized training for bank outside directors, aiming to improve decision-making and internal controls in financial institutions.
#YonhapInfomax #OutsideDirectors #FinancialTraining #CorporateGovernance #BankingIndustry #FinancialSupervision #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=50688
Bank Outside Directors to Receive Tailored Training at Korea Financial Training Institute
Financial regulators and industry leaders collaborate to enhance corporate governance through specialized training for bank outside directors, aiming to improve decision-making and internal controls in financial institutions.
RT @RaymondFrenken: On @Inv_Officer_LU: ‘Ambitious’ ESMA wants to create common supervisory culture in EU
--> in other words: national approaches in EU fin market supervision are still diverging
@ESMAComms @cssflux @FSMA_info @AutoriteitFM #financialsupervision #finreg
https://www.investmentofficer.lu/en/news/ambitious-esma-wants-common-supervisory-culture
🐦🔗: https://nitter.eu/EU_SRB/status/1579766824178429952
‘Ambitious’ Esma wants common supervisory culture
The European Securities and Markets Authority on Monday said it sees a need to create a common supervisory culture in the EU and believes that national financial supervisors need to intensify their horizontal, cross-border cooperation. It also acknowledged that it needs to improve its own cooperation with national supervisory bodies.
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