On Sep. 11, SK FSS proposed revisions re quasi-investment advisory.
SK FSS proposed revisions to Detailed regulations on financial investment business.
Follows SK FSC, FSS revised capital markets act effective Aug. 14, 2024, #199317.
Proposed Revisions
Establish a legal basis for creating a form for quasi-investment advisory business to renew their registration after the expiration of the five-year validity period.
Revise the business' reporting form, to reflect revisions to the Capital markets act, which specify reasons for rejection of reports, prohibition of unsound sales practices.
Create a reporting form for renewing a quasi-investment advisory business, in accordance with the revised Enforcement decree of the capital markets act, which stipulates the renewal of the validity period of quasi-investment advisory businesses.
Create a form for reporting changes in executives of quasi-investment advisory businesses, pursuant to the revised Enforcement decree of the capital markets act.
Consultation Period
Comments shall be submitted by Sep. 30, 2024.
Oct. 2024 Revisions Finalized
On Oct. 23, 2024, SK FSS revised detailed regulations effective from Oct. 31, 2024.
Regulators
SK FSS
Entity Types
IA
Reference
RF 10/23/2024; CP, Form, 9/11/2024; Dec 34840, 8/13/2024; Law 20305, 2/13/2024;
