The Financial Supervisory Service (FSS) has launched an investigation into Mirae Asset Securities regarding the cancellation of SpaceX IPO share allocations. The FSS is examining the circumstances of the allocation failure and whether investors were adequately informed of the risks.
The Financial Supervisory Service (FSS) announced it held a briefing session for a venture capital platform aimed at bridging information asymmetry between innovative companies and securities firms/VCs. The platform, co-developed with Naver Pay, is slated for launch in July to facilitate productive finance by expanding information sharing in the venture capital market.
The Financial Supervisory Service held a seminar in Seoul to help domestic fintech and financial companies expand into Europe, particularly Germany. The event aimed to diversify overseas markets beyond Southeast Asia and explored opportunities for Korean firms in the German fintech sector.
The Financial Supervisory Service (FSS) urged securities firms to strengthen internal controls to prevent investor harm from irresponsible sales practices amid increased market volatility. The FSS emphasized investor protection, particularly regarding foreign exchange risks in overseas investment brokerage and advertising.
The Financial Supervisory Service (FSS) decided to reduce fines for five banks that sold Hong Kong H-share index-linked equity-linked securities (ELS), imposing a total of 600 billion won in penalties, less than half of the initial estimate.
The Financial Supervisory Service (FSS) held a workshop for asset management firms, urging them to establish robust internal controls for ETF operations, including proper lending transactions and prevention of self-trading. The FSS also discussed the upcoming implementation of the duty-of-care structure and the use of AI for compliance efficiency.
