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Finance
FSC tightens delisting rules, revises market cap, penny stock and disclosure violation criteria
South Korea\'s Financial Services Commission approved changes to Korea Exchange listing rules to speed the removal of troubled companies. The revisions raise market-cap thresholds on a half-year basis, add stocks priced below 1,000 won as a new delisting trigger, and extend full capital impairment criteria to include half-year results. Disclosure violation standards are tightened by lowering the cumulative penalty-point threshold and flagging serious intentional breaches for review.
Finance
Capital market rules tighten as MyData programme expands
South Korean financial authorities are accelerating efforts to tighten capital market discipline, pledging tougher action against illegal practices aimed at avoiding delisting and pushing for timely exits of so-called zombie firms. Korea Exchange will introduce rules from July to delist penny stocks and raise standards for dealing with weak companies. Regulators also plan to curb duplicate listings and tighten reviews. Some decisions, including Hong Kong ELS fines and Samsung Securities approvals, remain delayed.
Finance
FSS to crack down on illegal acts to avoid delisting, push timely exit of \'zombie firms\'
South Korea\'s Financial Supervisory Service said on April 19 it will track to the end and respond strictly to illegal acts aimed at avoiding delisting. It plans a joint response system involving investigation, disclosure and accounting departments to closely monitor unfair trading and accounting fraud that delay the exit of troubled firms. The watchdog identified four key illegal practices and will rapidly share suspicious cases across departments while checking related disclosure and accounting issues.
