Search results for institutional warning
Finance
Samsung Securities enters commercial paper business after 9 years, gets final FSC approval
Samsung Securities will enter the commercial paper business after nine years after South Korea\'s Financial Services Commission gave final approval. The company first applied in 2017 but failed repeatedly due to issues including major shareholder eligibility and possible sanctions. Its review was halted again last year amid potential penalties linked to regulators’ inspections. With sanctions set at an “institutional warning” in July, the review resumed. The number of licensed issuers rises to eight.
Finance
Samsung Securities clears hurdle for short-term note licence; decision as early as September
A sanction related to Samsung Securities’ hub-branch sales practices that had blocked its entry into the short-term note business has been resolved. South Korea’s Financial Services Commission finalised the institutional penalty as a warning, which is not a disqualifying reason for a short-term finance licence. With the penalty level set, regulators are expected to resume the licensing review. A decision could come as early as the Sept. 9 regular meeting.
Finance
Samsung Securities commercial paper licence seen as green light, Meritz still in fog
Samsung Securities is seen as closer to winning approval to issue short-term commercial paper as regulators consider lowering sanctions linked to sales misconduct at key branches. The Financial Services Commission is expected to decide on the sanctions at its July 31 meeting, and the licence agenda could reach a Sept. 9 meeting. Meritz Securities, meanwhile, has not advanced its application, with prosecutors investigating alleged unfair trading and other issues weighing on timing.
