일상생활속 금융, 증권이야기

Incidents such as the T-Mon and WeMakePrice (TMON-WeMakePrice) scandal and the KakaoPay data breach have highlighted how events in traditionally non-financial sectors can significantly impact the financial system. Incidents such as the T-Mon and WeMakePrice (TMON-WeMakePrice) scandal and the KakaoPay data breach have highlighted how events in traditionally non-financial sectors can significantly impact the financial system. In response, financial authorities have decided to strengthen indirect regulations on non-financial firms. This blog explores the growing need for managing atypical operational risks and the new regulatory approaches being considered by the financial authorities. Recent incidents, including the T-Mon and WeMakePrice scandal and the KakaoPay data breach, have shown how problems originating from non-financial sectors can extend their impact to the financial system. As a result, financial authorities are moving to strengthen indirect regulations on non-financial firms ...

The Financial Supervisory Service (FSS) is planning to introduce a new system to strengthen the operational risk management of financial companies. The Financial Supervisory Service (FSS) is planning to introduce a new system to strengthen the operational risk management of financial companies. A key aspect of this plan involves evaluating the sales quality of corporate insurance agencies (GAs) and differentiating the capital regulations for insurance companies based on this evaluation. This article explores the challenges that small and medium-sized GAs may face and the opportunities that may arise from these regulatory changes.   The Financial Supervisory Service is taking steps to enhance the operational risk management of financial companies by introducing a new regulatory framework. On September 6th, the FSS held an inaugural meeting of the 'Financial Company Operational Risk Management Task Force (TF),' led by Senior Deputy Governor Lee Se-hoon. The task force discussed ...

Recently, the Financial Supervisory Service (FSS) imposed a 100 million won fine on the General Agency (GA) 'Won Financial Services' for engaging in fraudulent insurance contracts known as 'written contracts.'  Recently, the Financial Supervisory Service (FSS) imposed a 100 million won fine on the General Agency (GA) 'Won Financial Services' for engaging in fraudulent insurance contracts known as 'written contracts.' This action aims to address illegal practices and establish a sound insurance sales order. Let's delve into the definition of written contracts, the issues they pose, and the FSS's response to these fraudulent activities. The recent issue in the financial sector involves the GA 'Won Financial Services,' which has been penalized for engaging in 'written contracts,' a type of fraudulent insurance contract. The Financial Supervisory Service has fined the company 100 million won and issued a warning to the company's e...

KB Life Insurance is preparing for a comprehensive regular inspection by the Financial Supervisory Service (FSS) in September. KB Life Insurance is preparing for a comprehensive regular inspection by the Financial Supervisory Service (FSS) in September. This will be the first inspection since the merger of KB Life and Prudential Life last year. Additionally, the FSS is set to conduct thematic examinations on three large General Agencies (GAs) starting in October, focusing on specific issues such as improper replacement contracts. KB Life Insurance's Upcoming Regular Inspection KB Life Insurance, formed from the merger of KB Life and Prudential Life in January of last year, is scheduled to undergo its first regular inspection by the Financial Supervisory Service (FSS). This inspection, anticipated to take place in September, will be the first since the company's formation and is expected to be thorough given its significance. Regular inspections by the FSS are typically conducte...

The self-reporting period for written contracts, implemented to establish a healthy competitive order in the General Agency (GA) industry The self-reporting period for written contracts, implemented to establish a healthy competitive order in the General Agency (GA) industry, concluded without significant results. Consequently, financial authorities are now focused on their next steps, with attention on the ongoing task force (TF) for improving the internal control evaluation manual. This article explores the reasons behind the failure of the self-reporting period, the subsequent actions of financial authorities, and the industry’s expectations and demands for the future. In recent months, the Financial Supervisory Service (FSS) operated a self-reporting center for written contracts in the GA industry, aiming to establish a healthy competitive order. However, this initiative ended without notable success, disappointing both the GA industry and financial authorities, and highlighting th...