koreas-big-bang-could-turn-into-a-whimper

KoreaÆs ôbig bangö could turn into a whimper

Doubts surface about KoreaÆs plans for capital market reform early next year as the investment banking model loses its shine.
September 28, 2008
There is apparently considerable debate within KoreaÆs Financial Services Commission and at the Ministry of Strategy and Finance about whether additional regulations should be tagged on to the Financial Investment Services and Capital Markets Act FISCMA. There is also debate about whether the US investment banking model, which for so long had been the template for KoreaÆs capital market development, is still valid.

Unsurprisingly, there are grave concerns about the countryÆs new investment banks taking significant principal investments or engaging in the type of large-scale proprietary trading which had been cash cows for the top five US investment banks during the four years up to the summer of 2007. In a world where access...
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