Supervisory clampdown

South Korea's financial regulator is cracking down on foreign dealers doing illegal onshore derivatives business, signalling it is taking a tighter grip on the securities market ahead of major rule changes due in 2009. Joe Marsh reports from Seoul

South Korea's financial supervisor has had a very busy few months, which look set to define the conduct of derivatives dealing in the country. The Financial Supervisory Service (FSS) in December cautioned Deutsche Bank, Merrill Lynch and Nomura for doing unlicensed onshore derivatives business. BNP Paribas was wrongly reported as being a fourth firm to receive a caution. All four dealers declined to comment on the action.

While the recent penalties were the lowest of the four levels of sanctions

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here