Regulatory Alerts2018-09-10
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Proposed Amendment to the Enforcement Decree of the Asset-Backed Securitization Act
The Financial Services Commission proposes an amendment to the Enforcement Decree of the Asset-Backed Securitization Act to establish rules for determining monetary penalty amounts for violations of the Act. The proposed rules require penalties to be determined based on general criteria, which allow for exemption, decrease, or increase depending on the nature of the violation, and specific criteria that set maximum penalty amounts for two categories of unlawful acts. The public comment period for this proposed amendment ends on October 22, 2018.
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