Investment advisors, fees, mandatory information disclosure

[Korea Jeongseon financial newspaper reporters - who must disclose such investment advisory website for a price that works on commission income or sales volume received from the product development and sales company in the future.

Financial Services Commission said that two days notice from the coming six days 'investment advisory best practices' that contains such information until the 25th.

The best practices will standardize the independent investment advisors (IFA), a one-stop advisory and consulting services, including platform obligations of investment advisors in circumstances that are newly introduced standards and practices, work processes.

General non-independent investment advisors (FA), but can receive compensation from the sale of financial products manufacturers, sales for the full-scale financial products, is prohibited by receiving a return linked directly or indirectly to the scale of individual product sales.

Independent investment advisors (IFA) should not use a single platform for consultation to ensure their independence.

As a result he received financial advice to investors who purchase the goods without the vendor supports the principle of conformity with the obligations described in the product.

When you include banks, brokerages gyeomyoung sales and advice must distinguish between internal business processes. Let them know a separate investment advisory and sales activities are separated from the investor shall confirm the intention. Also clarifies the fees and investment advisory fees based on sales, and notify the investors.

In the case of online consultation should be published so that you can easily recognize whether the IFA, including the extent and provide advice on the website. Live chat, call centers, video chat has mandated two-way communication channel operations.

Financial investment advisory committee held three days coming and best practices sessions, and as soon as the Decree of the Financial Investment Services and Capital Markets Act will be passed enforce best practices.

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Pouring cut card fees for early presidential political commitment

[Korea before lower cervical financial newspaper reporters] are pouring out the impeachment lay leaving only the final sentence of the early presidential elections scheduled to be getting closer, credit card merchant fee reduction commitments as citizens in the policy as part of each party. Thus, in the card industry it is concerned this commitment will be realized.

According to the first day card industry, former Democratic representative, with Moon Jae he has pledged to drastically cut last February 23 card fee to protect small business owners and self-employed part.

Jeondaepyo statement said it will cut card fees and commissions applying preferential treatment in the payment sector pharmacies, convenience stores, bakeries, etc. songgae. With 300 million won a small merchant basis from 2 billion yuan, small and medium expanding the franchise from 300 million won to 500 million won and annual sales 500 million won less preferential fee is a commitment on the part of the representative's statement before commitment lowered gradually from 1.3% to 1% is applied to medium-sized merchants to be.

Free hangukdang earlier also announced he would push for more cuts are self-employed credit card merchant fees.

Inmyeongjin free hangukdang emergency Chairman briefed the small business industry last February 16 Yeouido-site meetings resulted in the company.

Chairman of enlargement and said it would review additional cuts even lower commission rate of 300,000 cards online retailers a merchant fee of 3 billion won general ~ 5 billion won annual sales. The current cards online retailer commission is around 3.5%.

If a card is added to the fees in the industry inhadoel, it has attracted wear hard make a profit. Especially merchant fee cuts last card industry prices were falling profits.

According to last year results presentation card companies, our cards, KB Kookmin Card YoY net income were 6.4% and 10.7% decrease, respectively.

Shinhan Card and Samsung Card, one card last year, net profit is only 3% more than in 2015, 4.6%, 647% increase eoteuna would offset the costs, fees, cuts in card loans increased, such as real profit cuts dropped the crab industry the assessments.

In fact, Shinhan Card card loans last year, billings increased 11.1% to 8 trillion won the previous year. Samsung Card has generated profits shiny PG olaet four stakes. One card is an analysis that does not reflect the cost of integration and foreign currency card from a low base effect occurs.

Card Industry insiders' profits last year, the credit card companies are difficult to see that there is no fee cuts to benefits in accordance with shiny effect, "he said.

The industry says that if the fee is rather inhadoel card issuers can lead to a direction such as to reduce customer benefits.

Industry insiders' fees if the card issuer inhadoel have no choice but to reduce benefits in cost savings dimensional 'said' merchants must check the effectiveness of the practical benefits also spins "he said.



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Shinhan Investment, foreign customs fees, discounts, gift prize event

[Korea goyounghun financial newspaper reporter] Shinhan Investment Corp. that is effective from March 2 coming 'overseas futures months daldal Event Season 3' discounts and commissions to present the prize to May 31 announced the 28th.

Overseas Season 3 events Gift months daldal 'can participate in both existing customers and new customers overseas futures trading, providing additional cuts monthly fee based on transaction performance.

The event is comprised of three. First, the discounted fee is applicable to foreign futures and options products, if you trade 12 September 2016 a new customer or is interrupted before the new trading clients. Discounted monthly fee shall be reduced by 0.1%, depending on volume. Second, if the new customer deal three products listed on the Singapore Stock Exchange (SGX), applies a discount fee of 3.3 dollars. Third, the total prize money will be paid 6 million won during the event based on the cumulative volume of futures trading overseas customers Shinhan Investment.

In addition, there are additional benefits for new account opening cut into the mobile. Chicago Mercantile Exchange (CME) index, and currency futures, SGX discount item 2.9 dollars during trading, CME products are covered by US $ 3.3 discounted fees when trading futures.

Shinhan Investment yunbyeongmin Global Business Unit, said, "There investor continues to grow with an interest in overseas futures with the growth of the global commodity markets," said " 'overseas futures months daldal Event Season 3' is an opportunity to increase the interest in overseas futures investment I hope to be, "he said.

Details about the event can be found on the homepage or Shinhan Investment Shinhan Investment Global Business Unit.



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