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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Yugwangyeol "longevity longer period is mandatory personal pension bill, not a blessing."

[Korea goyounghun financial newspaper reporter] yugwangyeol FSC Securities and Futures Commission Standing Committee source said: "Private pension legislation is required in difficult times longer say that the blessings of longevity."

Yugwangyeol jeungseonwi won the "need to create a long life as a blessing rather than risk" individuals in the Act enactment hearings held in Yeouido, Korea Financial Investment Association 24 days he told reporters.

Yu Commissioner period leading up to the super-aged society "Last Korea entered the year an aging society 2000, has 2026 over 65 population is 20% or more seconds will become an aged society," he said "aging society is about 70-year developed on the other hand, a mere 26 years, Korea explained that most rapidly "in the world.

In addition to the elderly poverty rate is four times the level of the OECD average of 11.6% to 48.5%.

He said, "I gotta concentrated in about 70% of Korea's national assets are real estate, there is a limit to the livelihood funding needed for retirement," he said "should establish a pension, superannuation, three-story old age security system of personal pension for them." I had mentioned.

After Korea's pension system is still not mature citizens can not receive retirement pension is the sum of the actual circumstances short of OECD recommended level of 70% to 80% a mere half of the pre-retirement income. The government will increase the rate of return on pension risk and diversify investments in order to distribute.

Meanwhile, the unitary governing system has been continued for a variety of annuity products, each governed by a batdeon banks, insurance, financial investment, eopgwon by law. The private pension law, the enactment was given the financial strength, expertise, etc. to register as a pension provider for financial institutions with certain requirements and obligations faithfully for stable management of pension assets and obligations, such as attention-ray tube.

Also provide a "personal pension account" to citizens efficiently manage a variety of private pension assets, and also introduced "one imhyeong investment annuities.

Yu Commissioner "can then strengthen the protection of pension subscribed to annuities give a constant meditation period, withdraw from the contract without the period Penalty" and "schedule seizure of pension assets to the pension guarantee of retirement part was limited, "he said.

Finally He said, "If the law is enacted citizens pension, pension savings, put a variety of products, including pension insurance in one account rate of return, you will be able to compare and managed such fees," said "freedom pensions of other financial companies it was considered a transfer to the product will be able to continue to raise the rate of return. "



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