Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - IOSCO Objectives and Principles of Securities Regulation
An assessment of the level of implementation of the IOSCO Objectives and Principles of Securities Regulation (IOSCO Principles) was conducted in the Republic of Korea (Korea) from April 3 to 19, 2013 as part of the IMF-World Bank Financial Sector A...
| Main Authors: | , |
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/09/20375068/korea-republic-financial-sector-assessment-program-detailed-assessement-observance-iosco-objectives-principles-securities-regulation http://hdl.handle.net/10986/20580 |
| Summary: | An assessment of the level of
implementation of the IOSCO Objectives and Principles of
Securities Regulation (IOSCO Principles) was conducted in
the Republic of Korea (Korea) from April 3 to 19, 2013 as
part of the IMF-World Bank Financial Sector Assessment
Program (FSAP). The assessment was made by Eija Holttinen,
Monetary and Capital Markets Department, IMF, and Andrea
Corcoran, an external expert working for the World Bank. The
previous IOSCO assessment of Korea was conducted in 2001-02
before the first IOSCO Assessment Methodology had been
developed. From the perspective of the IOSCO Principles,
this is therefore effectively a first assessment. Hence,
comparisons with the prior assessment are discouraged since
the process has since been refined to promote consistency
and has become progressively more rigorous. The assessment
was based on: (i) a self-assessment and additional written
responses prepared by the authorities; (ii) reviews of the
relevant legislation and regulations; (iii) meetings with
the management and staff of the FSC, SFC, FSS, Ministry of
Strategy and Finance (MOSF), Bank of Korea (BOK), Seoul
Central District Public Prosecutor s Office; and (iv)
meetings with SROs and market participants, including the
KRX, Korea Securities Depository (KSD), KOFIA, KICPA, Korean
Chamber of Commerce and Industry, banks, securities
companies, fund managers, issuers, credit rating agencies,
audit firms and local lawyers specialized in securities
markets law. |
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