Regulatory Alerts2024-07-29
Disclosure of costs of securities services
The Banking Supervision Department amends Proper Conduct of Banking Business Directive No. 414 to require banking corporations to disclose comparative securities service costs to customers semiannually. This change replaces a statutory cross-reference with a fixed reporting frequency to comply with a June 2023 amendment to the Banking (Service to the Customer) Law. The directive becomes effective on March 1, 2024, and was exempted from a regulatory impact report due to minimal compliance costs.
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