The Korea Economic Daily earlier today reported the regulator plans to ask local prosecutors to investigate the firm’s Hong Kong unit, alleging the company offered investments to Korean clients without a license, citing unidentified FSS officials.
The regulator is reviewing derivative sales and other operations at three foreign brokerages for compliance with South Korean rules, it said last month. The FSS began reviewing Credit Suisse, Goldman Sachs and Royal Bank of Scotland’s local units in late August, MoneyToday reported at the time, citing unidentified financial industry officials.
To access the complete Bloomberg article hit the link below
image: © Jan Krömer
Have something to tell us about this article?