Financial regulator strengthens inspections of securities firms… Requests for revisions to securities registration statements surge
The Financial Supervisory Service said it would conduct focused inspections of securities firms’ business practices and disclosures in response to increased stock-market volatility in 6 month, 11 day. It said the number of requests to revise securities registration statements this year had increased and was already nearing last year’s level.
The Financial Supervisory Service said it would strengthen inspections of securities firms in response to increased stock-market volatility in 6 month, 11 day. The Financial Supervisory Service said it would root out irresponsible business practices. It added that it would check whether internal controls and customer-protection measures were being implemented.
The Financial Supervisory Service announced that it expects the number of requests to revise securities registration statements this year to reach a record-high level. It said the number of revision requests had already approached last year’s level. The Financial Supervisory Service said it emphasized the accuracy of documents and compliance with disclosure standards.
The Financial Supervisory Service also began on-site inspections of the implementation of social-contribution advertising in the financial sector. It said the purpose of the on-site inspections was to verify how the advertisements were implemented and whether they had in fact been implemented. It explained that the inspection targets included advertising contracts and evidence of implementation.
Card spending by foreigners visiting Busan was recorded last year at7,809hundred million won. According to reports, this figure is said to have doubled from the previous year. The tally was based on card payment data.
D.CAMP and the Fintech Support Center held the “Startup OI #Financial Sector” event. At the event,5companies shared the results of their collaboration with the financial sector. The information shared included pilot services and examples of business collaboration.
The Financial Supervisory Service is conducting inspections of business practices, requiring corrections to filings, and carrying out on-site inspections of advertising campaigns in parallel. Meanwhile, the results of collaboration between the financial sector and startups are also being disclosed. The Financial Supervisory Service said it would continue supervision by checking relevant regulations and supporting documents.