Tanzania: Ministry Orders JFC to Work With the Government in Delivering Financial Services
The Minister for Finance in Tanzania has instructed the Joint Finance Commission to collaborate with the government to enhance financial service delivery to citizens.
Kyobo Life Insurance Finalizes Acquisition of SBI Savings Bank... Financial Commission Approves Major Shareholder Change
Kyobo Life Insurance has successfully completed the major shareholder eligibility review to acquire the country's top savings bank, SBI Savings Bank, marking its entry into the savings bank sector.
Self-employed Business Owners Can Also Switch Loans… Financial Services Commission to Implement from the 18th
The Financial Services Commission has expanded its loan switching service to include self-employed individuals, allowing them to easily obtain lower interest rates on loans under 1 billion won.
Roadmap for 'Climate Obligatory Disclosure' Released... Becomes a Measure for Evaluating Future Corporate Value
The Financial Services Commission of South Korea is set to officially announce a roadmap for mandatory climate disclosures next month, aiming to encourage a green transition in corporations.
Household Loans Increased by 2.9 Trillion Won in February Despite Restrictions on Real Estate Loans
In February, household loans from the financial sector rose by 2.9 trillion won, continuing a two-month upward trend despite ongoing real estate loan regulations.
Financial Services Commission Reviews Financial Market Risks Due to Middle East Uncertainty and Prepares for Worst-Case Scenarios
South Korea's Financial Services Commission is assessing financial market risks related to growing uncertainties in the Middle East, preparing for worst-case scenarios including stress tests.
Financial Services Commission: Financial institutions participating in the National Growth Fund are exempt even if they incur losses
The Financial Services Commission has decided that financial institutions participating in the National Growth Fund will not face sanctions from the Financial Supervisory Service if they incur losses without intent or serious negligence.
New Leap Fund Burns 628.6 Billion Won of Debt for Vulnerable Groups…55% of Long-Term Debt Exceeds 15 Years
The 'New Leap Fund' has eliminated 628.6 billion won in long-term debts of vulnerable social groups, with over 55% of those debts being overdue for more than 15 years.
Illegal loan sharking that harassed office workers with annual rates of 5200%... ‘One report’ stopped illegal collections
A worker, who borrowed 10 million KRW at an exorbitant annual interest rate of 5200%, reported his harassers and was able to halt illegal collections through a new one-stop support system implemented by the Financial Services Commission in South Korea.
Financial Services Commission approves ‘management improvement requirements’ for Lotte Insurance… must submit capital increase plan within 2 months
The Financial Services Commission has increased monitoring measures for Lotte Insurance, requiring a detailed capital improvement plan to be submitted within two months due to inadequate previous submissions.
Financial Services Commission supports SMEs with 13.3 trillion won due to instability in the Middle East
South Korea's Financial Services Commission is implementing a financial support program worth 13.3 trillion won for small and medium-sized enterprises affected by the political instability in the Middle East.
New Real Estate PF Loan Limits Established for Mutual Financing...Risk Management at Savings Bank Level
The Financial Services Commission in South Korea has announced new loan limits for real estate project financing for mutual financing institutions, aligning them with current standards for savings banks.
Financial Services Commission to Regulate Loans for Speculative Homeowners and Commercial Rental Operators
South Korea's Financial Services Commission plans to extend loan regulations to include speculative one-homeowners and commercial rental operators, amid efforts to curb real estate speculation.
DSS witness testifies in EFCC chairman’s defamation case
A witness from the Department of State Services testified in a defamation case against the chairman of Nigeria's Economic and Financial Crimes Commission regarding alleged false claims made on social media.
From now on, reporting stock price manipulation = a turnaround in life... a reward of 24 billion won is not just a dream
South Korea's Financial Services Commission announced the removal of the cap on rewards for reporting stock market manipulation, enabling potential rewards of up to 30% of recovered illegal gains or penalties for whistleblowers.
Mandatory ESG Disclosures for Large KOSPI Companies Starting in 2028... Climate Finance Expanded to 790 Trillion
Starting in 2028, large KOSPI-listed companies will be required to disclose their ESG practices, with climate finance expanding from 420 trillion to 790 trillion won.
Financial Services Commission reviews LTV 0% for mortgage renewals for multiple homeowners
The Financial Services Commission in South Korea is considering applying a zero loan-to-value ratio to mortgage extensions for multiple homeowners, amid ongoing concerns expressed by President Lee Jae-myung about the lending practices.
Antitrust Commission blocks Visa's purchase of 51% of Prosa; Visa says it is 'disappointed'
Mexico's antitrust commission has blocked Visa's attempt to acquire a 51% stake in Prosa, stating it would harm competition in the financial services sector.
The Trap of 'Full Commission' in Prudential: Other Companies Also Review Business Models
Prudential Life Insurance has been embroiled in a major scandal involving over 100 employees defrauding around 500 clients of more than 3.1 billion yen, prompting an inspection by the Financial Services Agency and a 90-day suspension of new business activities.
Germany and France Call for Simplifying Financial Rules in the European Union
Germany and France proposed measures to simplify financial regulations in the EU, urging the European Commission to present an ambitious package to ease the burden on companies.
Two fractional investment exchanges receive preliminary authorization...selection of NextTrade and Korea Exchange consortiums
The Financial Services Commission of Korea has granted preliminary authorization to two consortiums, NextTrade and Korea Exchange, to operate fractional investment exchanges, while LucentBlock has been disqualified over fairness concerns.
Number of candidates for KOSDAQ delisting skyrockets to 150... Financial Services Commission says "delisting criteria will be strengthened"
The Financial Services Commission estimates that around 150 companies may face delisting from the KOSDAQ market this year, significantly higher than the initially expected 50, due to stricter delisting criteria for underperforming companies.
EU - Russia: The 20th sanctions package from Brussels against Moscow
The European Commission unveiled the 20th sanctions package against Russia since the start of the war in Ukraine, focusing on energy, financial services, and trade.
European Commission has proposed the 20th package of sanctions against Russia
The European Commission has proposed its 20th package of sanctions against Russia, focusing on energy, financial services, and trade, aiming for adoption before the fourth anniversary of the war on February 22.
The European Commission proposes the 20th sanction package against Russia
The European Commission is proposing a new sanction package targeting Russia's energy sector, financial services, and trade, which will be the 20th in a series of sanctions aimed at reducing Russia's revenue from energy resources.
Brussels proposes the 20th sanctions package against Russia after nearly 1,500 days of war: "The Kremlin deliberately attacks homes and civilian infrastructure"
The European Commission has unveiled its 20th sanctions package aimed at Russia, focusing on energy, financial services, and trade, as the war in Ukraine nears its four-year mark.
EU proposes 'powerful' 20th Russia sanctions package with full ban on oil maritime services
The European Commission has proposed a new set of sanctions against Russia, including a complete ban on maritime services for oil to further diminish financial support for its war in Ukraine.
Von der Leyen presents EU's 20th sanctions package against Russia
The European Commission has unveiled its 20th sanctions package against Russia, primarily targeting energy exports, financial services, and trade.
Personnel Changes on February 5
The article lists personnel changes across various departments and educational institutions in South Korea, including the Financial Services Commission and Hanyang University.
Jeollabuk-do urges 'Financial Services Commission' decision to highlight the third financial hub
Jeollabuk-do has formally requested the government to designate it as the country's third financial hub, emphasizing the development of a financial ecosystem centered on the National Pension Service.
Bank branches down by 900 over 5 years... Financial Services Commission strengthens closure requirements for the elderly
Over the past five years, more than 900 bank branches have closed nationwide, prompting the government to strengthen closure procedures to improve financial access for the elderly and local communities.
Institutional investors should supervise the implementation of stewardship codes... Financial Services Commission has neglected its duties for 10 years
The Financial Services Commission has been criticized for neglecting its duty to oversee institutional investors' adherence to stewardship codes for the past decade, with calls for improvement in market practices and culture.
Hong Eok-kyun: The U.S. Provides 400 Billion Won, But Expanding Reward for Reporting Stock Price Manipulation
Korea's Financial Services Commission chair, Hong Eok-kyun, announced plans to significantly raise reward caps for reporting unfair trading and to create a new fund for proportional rewards based on unlawful profits, following previous criticisms of the low reward cap in Korea compared to the U.S.