On 19 June 2023, the Korean Financial Supervisory Service (FSS) issued a notice according to which domestic employees can be sanctioned for violating the Foreign Exchange Transaction Act if they sell foreign-listed shares through an overseas broker or deposit funds resulting from the sale of foreign-listed shares with an overseas financial institution. To avoid sanctions, domestic employees are required to open an account with a Korean domestic broker, transfer the foreign-listed shares to such account, sell the shares through the domestic broker, and deposit the proceeds into an account with the domestic broker.
On 19 June 2023, the Financial Supervisory Service of the Republic of Korea issued a notice which states that domestic employees may be sanctioned for violating the Foreign Exchange Transaction Act if they sell foreign-listed stock through an overseas broker or deposit funds resulting from the sale of foreign-listed stock in an overseas financial institution. To comply with the applicable regulation, domestic employees are required to open an account with a domestic broker and sell foreign-listed shares through such domestic broker.
In continuation of Baker McKenzie’s Asia Pacific webinar series on the business impact of COVID-19, we bring you…
Despite geopolitical shifts, uncertainty and various factors that seem to affect numerous sectors, the global luxury and fashion industry has tripled in the last 20 years to approximately $300 billion and continues to grow rapidly. But with that broadening and diversification comes a whole new set of business challenges to…
In the aftermath of the new sanctions imposed to North Korea, potential risks have been identified in the global shipping industry.
Following its intercontinental ballistic missile test in November, the UN Security Council unanimously voted to imposed new sanctions on North Korea.
We have summarized the results of the compliance studies of the past 12 months and summarized the results in this post. Find out how you measure up against the benchmark.
We are very pleased to present you the latest edition of our Global Overview of Anti-Bribery Laws Handbook, updated with detailed information about key legislative and enforcement activity in the anti-bribery and corruption sphere.
Transparency International has launched its latest 2016 Corruption Perception Index. China’s ranking continues to improve, moving up by four places from last year’s rank of 83 to a rank this year of 79. Find out more about the other highlights.
After several years of development, involving input from over 50 countries, the International Organisation for Standardisation (ISO) has finally published ISO 37001: Anti-Bribery Management Systems Standard – a new international standard designed to assist organisations worldwide in implementing and maintaining effective anti-bribery systems.