Regulatory Alerts2017-07-19
Added · Updated
Higher Monetary Award Proposed for the Reporting of Accounting Irregularities
The Financial Services Commission proposes amendments to the Regulations on Procedure and Reward for Reporting Accounting Irregularities to increase the maximum whistleblower award from KRW50 million to KRW500 million. Specific criteria for determining the award amount will consider the whistleblower’s contribution to the investigation of accounting irregularities. The public comment period for these proposed changes ends on August 30, 2017.
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