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

The evolution of backup and disaster recovery

Posted on 25 July 2014.  |  Amanda Strassle, IT Senior Director of Data Center Service Delivery at Seagate Technology, talks about enterprise backup issues, illustrates how the cloud shaping an IT department's approach to backup and disaster recovery, and more.


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, Jul 28th
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //