South Korea's financial watchdog urged virtual asset market operators to strengthen internal controls and monitoring systems to regain market confidence and protect customers amid a slump in the first half of the year.
The Financial Supervisory Service (FSS) urged securities firms to strengthen internal controls to prevent investor harm from irresponsible sales practices amid increased market volatility. The FSS emphasized investor protection, particularly regarding foreign exchange risks in overseas investment brokerage and advertising.
The Financial Supervisory Service (FSS) held a workshop for asset management firms, urging them to establish robust internal controls for ETF operations, including proper lending transactions and prevention of self-trading. The FSS also discussed the upcoming implementation of the duty-of-care structure and the use of AI for compliance efficiency.
