Jan
31
South Korea to Combine Foreign Fund Trading Accounts Next Year
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Omnibus account to help ease share transactions for foreigners
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South Korea seeks status of developed nation in MSCI indexes
South Korea plans to introduce a single trading account for foreign funds from next year as it bolsters efforts to get its stocks included in MSCI Inc.’s developed-country indexes.
The Financial Services Commission will amend rules and oversee an overhaul of electronic trading systems in April as it prepares for the change, the regulator said in a statement. The so-called omnibus account, which will replace an unpopular rule that currently requires offshore money managers to trade shares through a separate account for each of their funds, will be introduced on a trial basis from May, the FSC said…
South Korea to Combine Foreign Fund Trading Accounts Next Year
