News Regulations03 May 2019

Korea:FSS reinstates arbitrary inspection of financial firms


South Korea's Financial Supervisory Service (FSS) will commence its inspection of at least five local financial firms whereby it will examine issues such as corporate governance, internal control systems, financial stability and consumer protection. As of Tuesday, the confirmed list of firms to be inspected included Hanwha Life Insurance, Meritz Fire & Marine Insurance, KB Financial Group, KB Kookmin Bank and KB Securities according to a report from The Korea Herald. Around 25 firms are expected to be scrutinised by FSS throughout the year.

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