Regulatory Alerts2017-09-20
Amendments Proposed to Regulations on Supervision of Corporate Governance of Financial Companies
The Financial Services Commission issued proposed amendments to the Regulations on Supervision of Corporate Governance of Financial Companies, requiring financial firms to incorporate key anti-money laundering and combating the financing of terrorism provisions into their internal control standards. These mandatory updates strengthen corporate governance frameworks by aligning institutional internal controls with regulatory expectations. The revised regulations enhance oversight mechanisms and ensure consistent compliance across the financial sector.
Amendments Proposed to Regulations on Supervision of Corporate Governance of Financial Companies
Date
2017-09-20
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Amendments Proposed to Regulations on Supervision of Corporate Governance of Financial Companies_.pdf (fileSize: 155KB)
The Financial Services Commission proposed amendments to the Regulations on Supervision of Corporate Governance of Financial Companies that seek to further strengthen financial firms’ internal controls for anti-money laundering and combating the financing of terrorism (AML/CFT) by making it compulsory to incorporate key AML provisions into their internal controls standards.
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International Affairs Department(Financial Hub Korea) International Cooperation Team
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+82-2-3145-7895