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Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

Korea's Act on the Protection of Virtual Asset Users to Take Effect from 7/19: "those who are found to have engaged in unfair trading activities may be subject to criminal punishment or penalty surcharge."

Korea's new Act on the Protection of Virtual Asset Users comes into force on July 19, 2024, marking a significant step in safeguarding users and regulating virtual asset service providers (VASPs). This follows a revision in March 2021, which required VASPs to register with financial authorities and introduced

Credit Suisse engaged in naked short sales

Korea's SFC Imposes Penalty Surcharges on Global Investment Banks for Violating Short Sale Regulations. Credit Suisse engaged in naked short sales in the amount of about KRW60.33 billion (162,365 shares on 20 stock items).

The Securities and Futures Commission, a sub-commission within the Financial Services Commission responsible for overseeing the securities and futures markets, held the thirteenth regular meeting on July 3 and decided to impose penalty surcharges amounting to KRW27.173 billion in total on two former Credit Suisse affiliated investment banks for

CFTC Awards Over $8 Million to Whistleblower

CFTC Awards Over $8 Million to Whistleblower who "helped the CFTC establish that one or more derivatives market participants deceived clients about key aspects of trades."

The Commodity Futures Trading Commission today announced it awarded over $8 million toa whistleblower who provided significant information and assistance that led the CFTC and other agencies to bring multiple enforcement actions. The whistleblower helped the CFTC establish that one or more derivatives market participants deceived clients about key aspects

Today the Fed held a CLOSED board meeting to discuss an update on bank stress tests

Reminder: Today, as it was determined that the public interest did not require opening the meeting, the Fed held a CLOSED board meeting to discuss an update on bank stress tests set to be released to the public on 6/26/24.

Background: Last week, the Fed announced that results from its annual bank stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT. This year, 32 banks with $100 billion or more in total assets are subject to the stress tests. Additionally, aggregate results from the

Korea's Financial Service Commission to Implement Short Sale Reform Measures

Korea's Financial Service Commission to Implement Short Sale Reform Measures Introduced to Prevent Illegal Trading Activities and Protect Investors.

The Financial Services Commission announced the finalized version of short sale reform measures on June 13, which include plans to establish a completely electronic short sale processing system until March 2025, limit the length of stock repayment period for both institutional investors and retail investors to maximum 12 months, and

Short Sale Ban Extended Until March 30, 2025

Korea Financial Service Commission: Short Sale Ban Extended Until March 30, 2025.

The Financial Services Commission held an extraordinary session on June 13 and decided to extend the period of enforcing short sale ban currently set to expire at the end of this month until March 30, 2025. However, covered short selling by market makers and liquidity providers will continue to be

Fed holding a closed meeting Friday

Federal Reserve Alert! The Fed to hold a CLOSED meeting at 9:30 a.m. on Friday, June 14, 2024 for an update on Bank Stress Tests.

Last week, the Fed announced that results from its annual bank stress tests will be released on Wednesday, June 26, at 4:30 p.m. EDT. This year, 32 banks with $100 billion or more in total assets are subject to the stress tests. Additionally, aggregate results from the Board&