Korea’s FSC to prioritise online fund system
The Financial Services Commission says it will approve a licence for an online funds supermarket as soon as possible, to be fully operational by March. The aim is to cut costs and create a competitive distribution landscape.
Korea’s financial markets regulator is looking to prioritise approval of an online funds supermarket, with figures showing that the asset management industry has continued shrinking since 2008.
The entity – Fund Online Korea – was set up in late September and established a 10-strong committee of executives led by president and CEO Cha Moon Hyun. It applied to the Financial Services Commission (FSC) for a business licence last month.
And the FSC has announced it will approve the …
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