Watchdog chief urges securities firms to shore up shareholder value

The Financial Supervisory Service (FSS) in South Korea has urged securities firms to enhance shareholder value and improve risk management in light of rising interest rates, according to The Korea Times. During a meeting with heads of 28 securities firms, Lee Chan-jin, the governor of the FSS, noted that local brokerage firms have recorded record profits during a stock market bull run.

Lee emphasized that these firms should play a more significant role in market reform and contribute to boosting shareholder value. Additionally, the FSS chief called for better management of loans extended to investors to reduce market volatility and urged securities firms to better prepare for rising interest rates.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.