On Oct. 21, SK FIA revised rules for reporting stock lending fee status.
SK FIA revised the Enforcement bylaws of the regulations on the business conduct and services of financial investment companies, for reporting status of stock lending fees.
Follows SK FIA Sep. 2024 proposed revisions re retail pool fee payment, see #225047.
Overview of Revisions
Add a provision and form concerning the submission of the status of stock lending fee rates, in accordance with the revised retail pool fee payment system, see #223525.
The status of stock lending fee rates shall be reported by seven business days before the effective date of the enactment/revisions of retail pool fee rate payment standards.
Modify the article number for submission of details of credit extension by financial investment companies, in accordance with the revised upper regulations re lenders.
As a follow-up measure to a short sale reform plan issued by SK FSC, see #215738.
Effectiveness
The revision concerning retail pool fees is deemed effective from Nov. 1, 2024, while the revision concerning credit extension will be implemented from Mar. 31, 2025.
