(1) Reasons for Proposal

This amendment aims to reflect matters mandated by the Financial Investment Services and Capital Markets Act (FISCM Act) and the demand for system improvement according to the actions announced, in the Enforcement Decree.

(2) Major Provisions

A. Reflect mandated matters related to the information exchange suspension system (Article 50) 

Stipulate “the information subject to the suspension of information exchanges,” “required matters including internal control standards” related to the suspension of information exchanges, and other “company compliance requirements” mandated by the revised FISCM Act (May 19, 2020).

B. Improve the financial investment entity entrustment system (Articles 45 and 46) 

Reflect the internal control work that is restricted from entrustment that is mandated by the revised FISCM Act (May 19, 2020) and convert the preliminary reporting to the Financial Services Commission, which is necessary for entrustment, to ex post facto reporting.

C. Stipulate the public announcement method and procedure for the concurrent running or incidental business reported to the Financial Services Commission by financial investment companies (Article 44)