The Financial Investment Services and Capital Markets Act (the FISCM) of Korea, which became effective on April 1 2009, emphasises following four regulatory areas: (i) the concept of financial investment products defined on the basis of a negative system (where related actions are allowed unless expressly prohibited), (ii) regulation of financial investment businesses according to function, (iii) expansion of the scope of financial investment businesses, and (iv) modernisation of the investor protection system.
December 01 2009