On Dec. 1, 2024, SK FSS extended the validity of guidance until Nov. 30, 2025.
On Oct. 17, SK FSS proposed extension of guide on sales procedures.
SK FSS proposed extension of Administrative guidance on establishment of sales procedures for recommendation of investment in a new technology business investment association by securities houses, from Dec. 1, 2023 until Nov. 30, 2024.
The administrative guidance has been initially implemented since Dec. 1, 2021.
Aims to protect investors, encourage the establishment of sound business practices.
Guidance
Securities houses should apply mutatis mutandis regulations on the sales of financial investment products under Chapter IV of Act on the protection of financial consumers.
It also establishes necessary internal control, when securities houses intend to recommend investments in a new technology business investment association.
Consultation Period
Comments are open to the public, which shall be submitted by Nov. 5, 2023.
Dec. 2023 Extend Validity
On Dec. 29, 2023, SK FSS extended the validity of guidance until Nov. 30, 2024.
Dec. 2024 Extend Validity
On Dec. 1, 2024, SK FSS extended the validity of guidance until Nov. 30, 2025.
