"It is so natural to create an independent Trust Business Act." [Korea's Choice Financial News Reporter]
Hayounggu Korea Federation of Banks regarding reorganization of chapters 20 days had Islands Trust Business Act represents the entry into the banking industry jaksim remarks about opposition to that in the financial investment industry.
Day hayounggu president in an open press conference in Seoul, the bank hall, bank, securities, not to regulate the trust business of insurance volumes are shared as the capital market law is not right in addition to inhibiting the trust business development as well regulatory framework 'said' unspecified money trusts or a set of fiduciary property management is also natural to be included in discussions target 'he said.
This is interpreted as the last hwangyounggi Financial Investment Association at the press conference "Allowing investment banks to ilimeop will shake the banking system, root, '' established a separate Trust Business Act is undesirable, and one to argue about.
Financial authorities are pursuing an independent Trust Business Act established with the aim of suggesting to perform the functions inherent trust business of a comprehensive property management to match the low interest rate, aging society.
In particular hayounggu the President officially stated that "should be also discussed unspecified money trust" viscosity noticeable. Unspecified monetary investment trust is where you want to advance to a specific product, without the investment trust companies take care of the money was prohibited from selling new 2004.
Hayounggu President point out a very large investment bank (IB) ahead of the implementation of development plans in the first half of this year, he stressed that the securities industry is scrambling to "gyeomeop attention. 'Large securities firms are already gyeomeop attention being existing expanded lending capabilities in the foreign exchange business significantly and allowed the past unspecified money trusts with the same products, a comprehensive investment account of the merchant or even treat issuing bills that allow the terminal four, and past Bank (IMA) going the way 'is the position.
Hayounggu president 'very large investment bank (IB) This product is no difference between the past and unspecified money trust bank "told CNN that" it is natural that the review will discuss an unspecified bank money trust. "
Hayounggu Chairman of the pie of the whole financial market through the expansion of the 'Trust business is that banks, securities and insurance eopgwon free zone from understanding the specific eopgwon as work sharing rather is restricted to certain eopgwon within the financial' saying 'trust business customers will need to be raised to give broaden consumer choice increases the diversity and quality of service trust 'he said.
In this regard hayounggu President, the underlying cause for a long time and I think the full-time care systems and the positive regulatory system that okjoego our financial 'said' in the full-time attention to gyeomeop note, there is a need for a fundamental change in the positive regulation as a negative control, "he said .
Cost efficiency was also mentioned problems. Hayounggu President 'snooping georinda also a bit lower bank profits Playground others' ahead of the president has refuted hwangyounggi said' should compare the objective data "as a related remark to the effect. That would last five years (2011-2015) In the inter-bank financial sector overall average Return on Equity 4.7% Securities 3.5% and 6.3% in life insurance. Hayounggu president "not appropriate to mention the financial investment industry's low profitability margins for the industry of others, and the jipeot.
In addition, the day hayounggu President highlighted the degree and "wage system hobongje million job applications inner rooted in the high-growth era of economic development can work became a relic of the past" performance-based.
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