1. Expansion of Targets for the Financial Consumer Protection Assessment (Attached Table 3)
[Background]
To encourage the strengthening of the financial consumer protection system by including corporate insurance agencies that sell insurance products and asset management companies that develop financial investment products in the targets for the financial consumer protection assessment.
[Main Points]
Establishing a new method for calculating the business scale for corporate insurance agencies and asset management companies, thereby providing a basis for the financial consumer protection assessment in these respective sectors.
2. Reorganization of the Autonomous Diagnostic Assessment Grading System (Article 9, Paragraph 3; Attached Table 5)
[Background]
Under current regulations, autonomous diagnostic results are evaluated on a 2-tier grading system, which makes it difficult to compare with the 5-tier Financial Consumer Protection Assessment system. Furthermore, it lacks effectiveness, as most financial companies simply rate their autonomous diagnostic results as "Adequate."
[Main Points]
Revising the autonomous diagnostic assessment grading system from the current 2 tiers (Adequate, Inadequate) to a 5-tier system (Excellent, Good, Fair, Poor, Weak) to be identical to the main Financial Consumer Protection Assessment.
