The FSS will develop billing standards and retroactively calculate fees MyData service providers will have to pay in 2024 for their usage in 2023.
January 17, 2023The guidelines reflect IOSCO's recommendations and will be implemented as KOFIA best practice from 1 February 2023.
January 16, 2023The FSS produced the guidance by analysing three years of cases where fraud and embezzlement were detected by external auditors.
January 9, 2023Ten payment services are required to disclose payment commission rates charged to businesses, including Naver Pay, Kakao Pay and Toss Pay.
January 8, 2023The change will improve the efficiency and expertise available for conducting investigations into capital market frauds, the FSC said.
January 5, 2023The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.
January 4, 2023The revision bill will benefit almost 1,000 listed companies, exempting them from a requirement to subject their internal accounting management systems to external audits.
January 4, 2023On-site inspection will be initiated "immediately" in the event that financial services are interrupted for more than three hours due to a computer accident.
January 3, 2023The concerns relate to self-issued equity and derivative-linked bonds sold by securities firms, and the offering of high interest credit loans to investors.
December 29, 2022Effective from 1 January 2023, the guidelines are part of the response by the FSS and KOFIA to boost market confidence after a series of hedge fund scandals in Korea.
December 28, 2022