Speaking from the Korea Investment Conference, North Korea expert Brian Myers explains how the popular fallacy of a communist North Korea impedes our understanding of North-South relations. The Kim Jong Un regime espouses a radical version of the ethno-nationalism that remains the civic religion in the South as well; as a result many South Koreans consider it the “purer” state, thus emboldening the North to behave more belligerently. Myers analyzes the unsettling implications for South Korea’s security as it heads into presidential elections.
Jennifer Curry formerly served as managing editor of the Enterprising Investor. Previously, she was the social media manager at the New York Society of Security Analysts (NYSSA). Prior to her work at NYSSA, Curry worked as the senior project editor for a nonfiction imprint at Barnes & Noble Publishing and as an assistant editor at the H.W. Wilson Company. She is the editor of several volumes in the Reference Shelf series, and her writing has appeared in Smithsonian, IndustryWeek, Barnes & Noble Review, and other publications. Curry holds a BS in journalism and a BA in anthropology from the University of Kansas, and an MA in anthropology from Hunter College, City University of New York.
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The Financial Industry Regulatory Authority is willing to provide technical assistance to the Securities and Exchange Commission and the Labor Department in the drafting of a fiduciary rule to guide financial advice, said Robert Colby, FINRA's chief legal officer. FINRA "would love to see a best-interest standard applied that was similarly applied across the broker-dealer world," Colby said. ThinkAdvisor (free registration) (20 Oct.)
Tokyo's stocks surged and the yen weakened after Japanese Prime Minister Shinzo Abe scored a commanding victory in national elections. The outcome was widely viewed as a sign that Japan will stick with its loose monetary policy in an effort to drive inflation up to 2%. Bloomberg (free registration) (23 Oct.)
The Basel Committee on Banking Supervision released a report showing that the US and Japan are lagging the EU and other jurisdictions in meeting the bank capital standards outlined in Basel III. The committee assessed compliance with nine standards, which were supposed to have already been adopted. MLex (subscription required) (19 Oct.)
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