South Korean regulator completes Goldman inspection

South Korea’s financial regulator has completed an inspection of Goldman Sachs' local operations and is now analysing the results.

Bloomberg reports that the Financial Supervisory Service hasn’t decided what actions will be taken as a result of the probe, Cho Gook Hwan, director-general at the FSS said by phone.

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

S. Korean Regulator Analyzing Goldman Sachs Inspection Results

Orient Corp. Pledges Swift Recall of Loans to Japan Crime Groups

Wall Street Hires Losers Turned Winners After College Athletics

image: © Jan Krömer

Have something to tell us about this article?

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...