Earnest Fund Applies for Online Lending Business Registration with FSC
[Asia Economy Reporter Song Seung-seop] P2P finance company Honest Fund announced on the 14th that it has completed the registration application for Online Investment-Linked Finance Business (OnTu Business) with the Financial Services Commission.
Honest Fund has been conducting preliminary consultations with the Financial Supervisory Service for registration since last year. The main review process is expected to take about two months from the submission of the application.
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Seo Sang-hoon, CEO of Honest Fund, stated, “The OnTu Act is the world's first independent law for P2P finance, emphasizing the strengthening of financial consumer protection and fostering the innovative finance industry,” and added, “We will focus on creating a highly reliable investment environment by smoothly completing the remaining procedures.”
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