Regulatory Alerts2018-04-04
Amendments Proposed to the Act on Corporate Governance of Financial Companies, the Enforcement Decree, and Regulation
The Financial Services Commission proposed amendments to the Act on Corporate Governance of Financial Companies, its Enforcement Decree, and related regulations. These revisions tighten executive disqualification rules, enhance auditor and audit committee independence standards, and increase transparency in executive compensation and CEO selection. The updated framework also mandates greater board diversity in professional expertise and background while strengthening the independence of outside directors.
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