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[THE INVESTOR] South Korea’s brokerage firm NH Investment & Securities has clinched a license to operate a private equity investment arm in a move to pursue high returns amid a stagnant stock market, the nation’s top financial regulator said on Aug. 5.
This is the first time that Financial Services Commission has given permission to a local securities company since the regulator announced a set of measures to encourage local brokerage firms to enter PEF business in May to boost their competitiveness.
This is the first time that Financial Services Commission has given permission to a local securities company since the regulator announced a set of measures to encourage local brokerage firms to enter PEF business in May to boost their competitiveness.
Unbound by government-imposed restrictions, two more brokerage houses are currently being screening for approval.
By Park Han-na (hnpark@heraldcorp.com)
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