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Enforcement Decree of the Financial Investment Services and Capital Markets Act

Updated: Sep 5, 2023


Enforcement Decree of the Financial Investment Services and Capital Markets Act

[Enforced Mar. 10, 2022] [Partially amended Decree no. 32201, Dec. 9, 2021, partially amended]


【Summary】

  1. Specification of the scope of additional registration of business units of investment traders, etc. (Article 19-3, newly inserted). With the introduction of a system under which investment traders, etc. should register the addition of business units, the scope of business units that investment traders, etc. can additionally register with the Financial Commission shall be prescribed as follows: among financial investment products belonging to investment trading, investment trading excluding acquisition business, investment trading only engaging in acquisition, business units that are not approved in a financial investment product belonging to investment brokering.

  2. Specification of standards applying to special cases concerning authorization of foreign financial investment businesses5 financial investment business (Article 19-4, newly inserted).

    • As the legal basis for special cases concerning authorization of finance investment business due to the change in type of organization of a foreign financial business has been established, the scope of domestic companies of foreign financial investors to which the special cases for authorization applies shall be restricted to domestic companies in which a foreign financial investor owns all outstanding shares, and the change in type of organization to which the special cases apply shall be restricted to where a foreign financial investor changes its branch or sales office to the domestic company or changes the domestic company into a branch or sales office.

    • Where a foreign financial investor or its domestic company intends to obtain authorization as a financial investment business through change of type of organization, the eased requirements for authorization shall be restricted to requirements on the business plan of financial investment business and requirements on the man power and facilities for performing financial investment business.


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☆New legislations and amendments(MAR)
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***This article is extracted from Invest KOREA information center, 2022.

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