News and developments
2023 Capital Markets Regulation Trends and its Impacts on Corporations
Among the regulatory agendas that have recently been reorganized or are being promoted in the new year, noteworthy items are briefly reviewed as below, focusing on the FSCMA, the regulations thereunder or related guidelines. We will focus on policies announced as shareholder protection measures in situations of M&As and spin-offs, strengthened unfair trade restrictions, and revised delisting systems.
Auditor Journal (January 2023, vol. 277) [email protected] [1] Hyunjoo Oh, partner, Lee & Ko
[1] This is a translation of the article included in Auditor Journal of Korea published in January 2023 (vol. 277) by the Association of Listed Companies Auditors of Korea). This paper is the personal opinion of the author and does not represent the official opinion or position of the firm. In addition, any progress made on the regulatory atmosphere after the date of this paper was not reflected in this paper.
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Promoting the reinstatement of the obligatory tender offer system in the event of a change in management rights through stock transfer
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Completion of a package of measures to strengthen the protection of general shareholders in vertical split-offs
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New restrictions on refixing and call options for (redeemable) convertible preferred stocks
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Introducing the system for prior disclosure of insider transaction
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Assistance in utilizing Insider Trading Alarm Service (K-ITAS)
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Promoting restrictions on capital market transactions and appointment of executives in listed companies for unfair traders
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Disclosure of Violators of Unfair Trade Regulations
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Promotion of gradual mandatory English disclosure for listed companies
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Improvement of delisting system
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Dividend system reform
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Allow door-to-door sales of financial investment products
Auditor Journal (January 2023, vol. 277) [email protected] [1] Hyunjoo Oh, partner, Lee & Ko
[1] This is a translation of the article included in Auditor Journal of Korea published in January 2023 (vol. 277) by the Association of Listed Companies Auditors of Korea). This paper is the personal opinion of the author and does not represent the official opinion or position of the firm. In addition, any progress made on the regulatory atmosphere after the date of this paper was not reflected in this paper.