Public Enforcement of COB
The chapter analyses the public enforcement of the conduct of business regulation of South Korea and the UK. The UK’s public enforcement by the regulator is a compliance-focused approach. This approach relies on the goodwill of financial institutions and
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Strategies of Financial Regulation “‘Mis-selling’ of financial products is one of the keen issues in the matters of financial regulatory policy-making and financial consumer protection. This book, written by an examiner of the Korean financial supervisor, is deeply and precisely analyzing the causes of mis-selling and the problems in enforcement process, and further suggesting some legal and regulatory reformative measures to solve these problems. I strongly recommend financial regulators and policy-makers to read this book because it will definitely help them set up a more efficient financial regulatory regime for financial consumer protection.” —Dong Won Ko, Professor of Financial Law at Sungkyunkwan University Law School, Korea “This work represents a unique and original perspective on one recently manifested consequence of innovation in global financial markets, namely, the fact that in the face of extreme complexity, information asymmetries, and imbalances in risk bearing and decision making capacity, all market participants are very far from equal. The 2008 GFC revealed that eternal truth yet again in the case of OTC derivatives and it did so across the globe in different legal, regulatory and financial spaces. The financial markets, political and legal histories and cultures of South Korea and the UK at first sight could not differ more. Yet this work, drawing on the writer’s deep understanding of markets and practical experience as well as his theoretical insights from a wide range of disciplines, shed light on what was essentially a problem common to both countries. It represents a worthy contribution to the comparative Law and Finance literature and will be of interest to many beyond the shores of just the UK and South Korea.” —Joanna Gray, Professor of Law School, University of Birmingham, UK
Junghoon Kim
Strategies of Financial Regulation Divergent Approaches in Conduct of Business Regulation of Mis-Selling in the UK and South Korea
Junghoon Kim Yoido-Dong, Youngdeungpo-Gu Financial Supervisory Service Seoul, Korea (Republic of)
ISBN 978-981-15-7328-6 ISBN 978-981-15-7329-3 (eBook) https://doi.org/10.1007/978-981-15-7329-3 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Singapore Pte Ltd. 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. T
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