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.
Amendments Proposed for the Enforcement Decree of the Act on Registration of Credit Business, etc. and Protection of Finance Users
Date
2017-02-17
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1813
File
Amendment Regulation Proposed for Moneylenders in Peer-to-Peer (P2P) Lending_.pdf (fileSize: 188KB)
The Financial Services Commission proposed amendments to the Enforcement Decree of the Act on Registration of Credit Business, etc. and Protection of Finance Users. The amendments seek to give enhanced protection of peer-to-peer (P2P) investors and borrowers by establishing oversight of moneylenders that are set up and controlled by P2P operators to facilitate P2P lending.
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Proposed Amendments to Enforcement Decree of the Financial Investment Services and Capital Markets Act
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New Legislation Proposed for Money Market
Department/Division in charge of Information management
Department/Division In charge
International Affairs Department(Financial Hub Korea) International Cooperation Team
Phone Number
+82-2-3145-7895