Stricter supervision in South Korea
South Korea is emerging from the financial crisis with a vastly different financial system and a steady stream of new rules – some pre-planned, some a direct response to the crisis. But for delegates attending Risk Korea 2010, there are concerns about the overall impact of the new regulation. Harry Thompson reports
Strong regulatory action emerged as a theme for Korean overseers since the start of the financial crisis. Foreign exchange guidelines, a new product approval bill (NPA) and other rules have followed the wide-ranging reform of the 2009 Financial Investment Services and Capital Markets Act (FSCMA). And speakers at Risk Korea 2010 provided an update of some of the regulatory changes, both home and
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