Ringfencing and contract enforceability challenges
In the first of a series of regulation reports, the staff of the International Swaps and Derivatives Association look at two developments with far-reaching implications taking place in South Korea: ringfencing in the new regulatory regime and challenges to the enforceabilty of derivatives contracts
The Financial Investment Services and Capital Markets Act - Korea's 'big bang' - came into effect on February 4. Its aim is to consolidate the country's various fragmented financial market regulations into one single, comprehensive piece of legislation, effectively regulating all financial investment services in Korea.
Various types of financial services can now be carried out by a single entity
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