Financial Services Commission Elevates Capital Market Bureau... "Strengthening Unfair Transaction Investigations"

Abolition of Self-Help Groups... Legislative Notice Until the 19th

[Asia Economy Reporter Lee Seon-ae] The Financial Services Commission (FSC) is planning to integrate the 'Capital Market Investigation Team,' which investigates unfair trade practices, and the 'Capital Market Policy Officer,' who creates capital market policies, into an upgraded 'Capital Market Bureau.' This move considers the organic connection between investigations of unfair trade and related policies.

According to financial authorities on the 13th, the FSC announced the legislative notice of a partial amendment to the 'Enforcement Rules of the Financial Services Commission and Its Affiliated Agencies (Prime Ministerial Decree)' yesterday, which includes this plan. The FSC stated that this organizational reform aims to efficiently promote advanced capital market policies and strengthen investigations into unfair trade practices.

According to the amendment, the FSC plans to reorganize the existing Capital Market Policy Officer, previously under the Director of the Financial Consumer Bureau, into the Capital Market Bureau under the Secretariat Chief. Additionally, instead of the Capital Market Investigation Team, two new divisions (Capital Market General Division and Capital Market Investigation Division) will be established within the upgraded Capital Market Bureau.

The Capital Market General Division will be responsible for planning and overseeing investigations into unfair trade practices in the capital market. The Capital Market Investigation Division will handle the investigation and enforcement related to unfair trade. As a result, the Capital Market Bureau will encompass existing departments dealing with policies such as the Capital Market Division, Asset Management Division, and Fair Market Division, alongside investigative departments like the Capital Market General Division and Capital Market Investigation Division.

The FSC also plans to add three necessary personnel: one Grade 4, one Grade 5, and one Grade 6 staff member. The Capital Market Bureau had been downsized to the Capital Market Policy Officer in July 2018 but will be revived after about four years through this initiative.

On the other hand, the Capital Market Investigation Team, which served as the control tower for unfair trade investigations since its establishment in September 2013, will be dissolved after about nine years. This organizational reform is interpreted as a measure responding to the national agenda of strengthening unfair trade investigations while considering the organic connection between policies and investigations.

This content was produced with the assistance of AI translation services.