PASLA was incorporated in Hong Kong in 1995 and is an association of firms that are active in the business of borrowing and/or lending securities in Asian markets.
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PASLA provides a collective voice and an industry consensus on issues that affect the development of the securities lending business.
PASLA works with regional regulators and exchanges to assist in the further development of the securities lending business.
As the Korea market announces new regulations, PASLA’s Korea Working Group continues to communicate with onshore regulators to ensure that our members are able to access clear guidance on expectations.
The Korea Securities Depository (KSD) has revised its regulation on Intermediation of Securities Lending and Borrowing (SLB) Transactions and its Detailed Enforcement Rules to align with the Financial Services Commission (FSC)’s measures to implement the new short selling controls. The revised regulations will come into effect from 01 November 2024.
The Financial Supervisory Service (FSS) has announced official guidelines for the internal controls on short selling and the new institutional balance management system. These guidelines are to assist investors in implementing controls in a timely manner based on clear standards. Those institutional investors that intend to engage in covered short selling should review and apply these guidelines when the temporary short selling ban is lifted after 30 March 2025.
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Membership is open to any organisation that is a regular borrower or lender of securities or regularly enters into repo transactions. The Board may decide to confer honorary member status on institutions that do not meet this definition.
Membership includes access to country profiles, summaries of Executive Committee meetings, country updates and much more.