Financial Services Commission Selected for Excellence in Proactive Administration Including COVID-19 Response Regulatory Improvements
[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission announced on the 23rd that it has selected six cases (three excellent and three commendable) of flexible financial regulations in response to the novel coronavirus infection (COVID-19) as "Outstanding Cases of Proactive Administration" for the second half of the year.
These include cases such as improving the network separation regulations for financial companies in response to the COVID-19 situation, and diversifying methods for sharing financial transaction information and verifying real names.
Cases utilizing the Proactive Administration Committee to resolve corporate asset sales and illegal private loan damages were also included.
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Among these, civil servants selected for the three excellent cases will be awarded incentives such as the highest performance grade (S grade). The FSC also selected six outstanding departments for proactive administration and awarded them together.
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