Regulatory Alerts2017-08-11
Amendments Proposed to Regulations on Supervision of Banking, Insurance, Mutual Financial, Mutual Savings Bank, and Specialized Credit Finance Businesses
The Financial Services Commission proposes amendments to supervision regulations governing banking, insurance, mutual financial, mutual savings bank, and specialized credit finance businesses. These regulatory updates implement the government’s August 2 housing market stabilization plan by curbing speculation and facilitating access for genuine home buyers. The revisions specifically modify the Enforcement Decree of the Act on Registration of Credit Business and Protection of Finance Users alongside updated insurance supervision rules.
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