Firewalls to be drawn between industry, finance

Monday, 7 April 2003, 9:31 PM EST

The Fair Trade Commission (FTC) yesterday made it clear that a strict firewall will be set up between industrial giants and their financial subsidiaries in a move to prevent conglomerates from abusing financial units for business expansion and controlling the business arms.

In a report to President Roh Moo-hyun yesterday, FTC Chairman Kang Chul-kyu said conglomerates will be prohibited from exercising voting rights in their financial subsidiaries.

According to analysts, once the system is put in place, the Samsung group will be hit hardest as it controls many large financial units, including Samsung Life Insurance, Samsung Securities and Samsung Card.

[ Read more ]




Spotlight

New Zeus variant targets users of 150 banks

Posted on 19 December 2014.  |  A new variant of the infamous Zeus banking and information-stealing Trojan has been created to target the users of over 150 different banks and 20 payment systems in 15 countries, including the UK, the US, Russia, Spain and Japan.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  
DON'T
MISS

Mon, Dec 22nd
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //