Do not go gentle into that good night, old age should burn and rave at close of day; Rage, rage against the dying of the light, though wise men at their end know dark is right, because their words had forked no lightning they, do not go gentle into that good night.
KB Securities gets approval to issue promissory note
The KB Securities head office on Yeouido, Seoul / Courtesy of KB Securities
By Jhoo Dong-chan
By Jhoo Dong-chan
KB Securities has received the green light to issue a promissory note for the third time among local brokerages after Korea and NH Investment & Securities.
According to the Financial Services Commission (FSC), the Securities Futures Commission (SFC) decided to allow the securities unit of KB Financial Group to issue the promissory note. The SFC is the auditing unit under the FSC.?
The decision is subject to final approval during the regulator's regular meeting on May 15.
Under related rules, a securities firm with 4 trillion won ($3.39 billion) worth of equity capital is categorized as a mega investment bank, the only entity allowed to issue a promissory note with a maximum limit of 200 percent of its equity capital.
KB Securities is the nation's fourth-largest brokerage with current capital of 4 trillion won.