Financial Authorities Publish Casebook on Legal Interpretations and Non-Action Opinions

Including Active Legal Interpretation and Non-Action Opinions for COVID-19 Response

[Asia Economy Reporter Kwangho Lee] The Financial Services Commission and the Financial Supervisory Service announced on the 8th that they have each compiled and published collections of legal interpretations and non-action opinions for the year 2020.

The collections include a total of 201 response cases, consisting of 136 legal interpretations and 65 non-action opinions issued last year. Additionally, the anonymously submitted application system newly introduced in April last year was used to respond to legal interpretation demands across various fields.

The anonymous application system served as a communication channel for inquiries related to fintech companies preparing to enter financial innovation sectors such as electronic finance and credit information, as well as for general corporate regulation issues like disclosure and audits.

The 2020 collections of legal interpretations and non-action opinions published this time are available on the Financial Regulation Complaint Portal.

A financial authority official stated, "We plan to continue actively resolving doubts regarding financial laws and alleviating concerns about sanctions, while striving to enhance the legal stability of financial companies and others."

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