Tuesday May 8 2018

News Source: Global Exchanges

Focus: Trading Rules

Type: General




On 5th May 2018, the Financial Services Commission (FSC) announced that it will ease the entry requirements for Brokers. This development is part of a  wider regulatory reform which will also apply to the banking sector.

The FSC hopes that the regulatory reform on entry barriers will promote competition and innovation in the financial sector.

For brokerage firms specialised in venture capital investment, the FSC will switch the current requirement of license for investment brokerage business to registration-only system. Minimum capital requirements for such specialised brokerages will be lowered from the current KRW 3 billion.

The proposed change is expected to be introduced through an amendment to the Financial Investment Services and Capital Markets Act and other related regulations. The changes are expected to be introduced in the 3rd  quarter of 2018.

For additional information please click the link above.