"Financial Data Regulation Eased" Improvement Plan to Be Released in Q3 This Year
'Financial Data Regulation Innovation Task Force (TF)' Launches on the 18th
The financial authorities plan to announce a 'Data Regulation Improvement Plan' in the third quarter of this year. This plan aims to establish a foundation for financial innovation and competitiveness through data and to address the difficulties faced by the financial venture industry.
The Financial Services Commission launched the 'Financial Data Regulation Innovation Task Force (TF)' on the 18th, with participation from financial companies, fintech firms, experts, related organizations, and the Financial Supervisory Service.
The task force will discuss support measures for the use of pseudonymized data by small and medium-sized fintech companies through consulting on pseudonymized data processing and the establishment of secure networks, support measures to activate data combination such as improving data combination rates, and support measures to promote financial artificial intelligence (AI) using synthetic data.
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A Financial Services Commission official stated, "We will compile the tasks derived from the task force and announce the financial data regulation improvement plan within the third quarter of this year, and promptly proceed with necessary follow-up measures such as amendments to related laws."
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