Commercial banks and other financial firms are anticipated to lower lending rates to attract new customers following the launch, Wednesday, of an online, one-stop platform allowing borrowers to switch to other lenders.
Commercial banks and other financial firms are anticipated to lower lending rates to attract new customers following the launch, Wednesday, of an online, one-stop platform allowing borrowers to switch to other lenders.
The government has overhauled regulations on trading of contracts of differences (CFDs), a highly leveraged derivative product tied to the purchase and sale price differences of equities. The move is aimed at strengthening requirements for trading to increase transparency and protect investors in order to prevent major stock price manipulation scams based on derivative trading, as seen in a recent high-profile stock manipulation case involving eight local stocks, which wreaked havoc on hundreds of retail investors.
The vice chief of Korea s top financial regulator wrapped up a four-day visit to two countries in Central Asia, facilitating overseas business expansions by Korean financial firms and joint investments in the region.
Financial Services Commission (FSC) Vice Chairman Kim So-young is setting off for Central Asia with leaders of domestic financial firms, accelerating financial regulators efforts to support the firms overseas expansion. According to the FSC, Kim will visit two Central Asian countries - Uzbekistan and Kyrgyzstan - from Tuesday to Friday. This will be Kim s first time taking action to support financial firms entering the global market, following the Financial Supervisory Service (FSS) chief s recent five-day tour of Southeast Asia.