Regulatory Alerts2017-02-17
Amendments to the Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users
The Financial Services Commission proposed amendments to the Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users. These changes establish direct regulatory oversight for moneylenders created and controlled by peer-to-peer (P2P) operators to facilitate P2P lending. The updated framework strengthens legal safeguards for P2P investors and borrowers by clarifying supervisory requirements and operational boundaries for these specialized credit entities.
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