FSC defends new Korean derivatives bill

Proposed rules on new product approval could hamper the Korean derivative market, the International Swaps and Derivatives Association has warned. But the Korean regulator, the Financial Services Committee (FSC), says Isda's criticisms are based on "a lack of understanding".

The bill, currently before the Korean national assembly, would set up a committee to review and pre-approve certain over-the-counter derivatives products. Keith Noyes, Asia-Pacific regional director for Isda in Hong Kong

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