Article 1(Purpose) #
The purpose of this Decree is to provide for matters delegated by the Act on the Establishment, etc. of Financial Services Commission as well as for those necessary for the enforcement thereof. <Amended on May 16, 2007; Feb. 29, 2008>
Article 2(Recommendation of members) #
(1) If the term of office of any member of the Financial Services Commission expires under Article 4(1)6 of the Act on the Establishment, etc. of Financial Services Commission (hereinafter referred to as the "Act"), the Chairperson of the Financial Services Commission (hereafter referred to as the "Chairperson" in this Article) shall request the relevant recommendation institution to recommend a candidate at least 30 days prior to such expiration. <Amended on May 29, 2000; May 16, 2007; Feb. 29, 2008>
(2) If the office of a member referred to in paragraph (1) becomes vacant, the Chairperson shall, without delay, request the relevant institution, which had made recommendation for the member, to recommend a candidate. <Amended on May 29, 2000>
Article 3(Establishment registration of Financial Supervisory Service) #
(1) The establishment registration of the Financial Supervisory Service shall include the following matters: <Amended on May 29, 2000>
1. Purpose;
2. Name;
3. Location of main office;
4. Name, resident registration number and domicile of the Governor of the Financial Supervisory Service;
5. Names and resident registration numbers of the Senior Deputy Governors Deputy Governors, and Chief Executive Auditor;
6. Methods of public announcement.
(2) An application for the establishment registration referred to in paragraph (2) shall be accompanied by the following documents:
1. Articles of Incorporation;
2. A certified copy of a certificate of authorization for the Articles of Incorporation.
(3) The members of the establishment committee shall be joint applicants for the establishment registration referred to in paragraph (1).
Article 4(Registration of establishment) #
Where the Financial Supervisory Service establishes a branch office or a local office, it shall file for registration of the name, location, and date of establishment of such office at the location of its principal office within 2 weeks of the establishment.
[This Article Wholly Amended on Jan. 21, 2025]
Article 5(Registration of relocation) #
(1) If the Financial Supervisory Service relocates its principal office, it shall file for registration the new location and the date of relocation at the former location or the new location within 2 weeks of the relocation.
(2) If the Financial Supervisory Service relocates a branch office or a local office, it shall file for registration of the new location and the date of relocation at the location of its principal office within 2 weeks of the relocation.
[This Article Wholly Amended on Jan. 21, 2025]
Article 6(Registration of modification) #
Where any registered matter under the subparagraphs of Article 3(1) or 4 is modified (excluding cases falling under the registration of relocation under Article 5), the Financial Supervisory Service shall file for registration of such modification at the location of its principal office within 2 weeks of the modification.
[This Article Wholly Amended on Jan. 21, 2025]
Article 7(Competent register office) #
(1) The registration of the Financial Supervisory Service shall be administered by the district court, its branch court, or the registry office having jurisdiction over the location of its principal office. <Amended on Jan. 21, 2025>
(2) Each register office shall keep a register of the Financial Supervisory Service.
Article 8(Documents for verification) #
An application for registration of establishment or change of address of a branch or sub-branch or for that of modification of matters referred to in Article 3(1)1 through 4 and 6 shall be accompanied by documents verifying such establishment, change of address or modification.
Article 9(Appointment of agent) #
(1) Where the Governor appoints an agent under Article 36 of the Act, the Financial Supervisory Service shall file for registration of the following matters at the location of its principal office within 2 weeks of the appointment: <Amended on Jan. 21, 2025>
1. Name, resident registration number and domicile of the said agent;
2. In case any authority of the said agent is restricted, the details of such restriction.
(2) Any employee who may be appointed as an agent of the Governor under Article 36(2) of the Act shall be a person who is engaged in affairs related to legal proceedings for at least two years or has much knowledge and experience on such affairs.
Article 10(Public announcement) #
The Governor shall publicly announce the registered matters at a competent court or register office without delay.
Article 11(Application mutatis mutandis to registration) #
Except as otherwise provided in this Decree, the Non-Contentious Case Procedure Act shall apply mutatis mutandis to the registration of the Financial Supervisory Service. In such cases, "head office" and "branch" referred to in the said Act shall be deemed to be "main office" and "branch or sub-branch", respectively. <Amended on May 16, 2007>
Article 12(Share of the contributions) #
(1) The contribution rate of the contribution pursuant to Article 47(1) of the Act shall be the proportion to be determined annually by the Financial Services Commission, taking into account the size of the contribution by financial sector, total liabilities and operating income (in cases of an insurance company under Article 38(3) of the Act, premium income) of the institution subject to inspection, etc. within the scope of 15/10,000 of the total amount of assets at the end of the preceding business year for each institution subject to inspection pursuant to Article 38 of the Act (if the institution subject to inspection manages collective investment property, discretionary investment property, or trust property pursuant to the Act on Capital Market and Financial Investment Business and the amount calculated by multiplying the sum of collective investment property, discretionary investment property, and trust property by 3/10,000 as at the end of the preceding business year is greater than the amount multiplied by 15/10,000 of the total amount of assets, it shall be 3/10,000 of the total amount of assets), In such cases, the scale of contributions by financial sector shall be determined by the financial resources referred to in subparagraphs 1 through 3 and 5 of Article 46 of the Act, human resources of the Financial Supervisory Service invested in supervision, inspection, etc. of the relevant financial sector. <Amended on Feb. 29, 2008; Jul. 29, 2008; Aug. 21, 2018; Jan. 5, 2021; Mar. 15, 2022; Dec. 3, 2024>
1. Institutions subject to examination referred to in subparagraphs 1 and 4 through 8 of Article 38 of the Act and other similar institutions subject to examination referred to in subparagraph 9 of that Article, which are determined by the Financial Services Commission;
2. Institutions subject to examination referred to in subparagraph 2 of Article 38 of the Act and other similar institutions subject to examination referred to in subparagraph 9 of that Article, which are determined by the Financial Services Commission;
3. Institutions subject to examination referred to in subparagraph 3 of Article 38 of the Act and other similar institutions subject to examination referred to in subparagraph 9 of that Article, which are determined by the Financial Services Commission;
4. Institutions subject to inspection under subparagraph 9 of Article 38 of the Act, which do not fall under subparagraphs 1 through 3.
(2) The Financial Services Commission shall establish the detailed standards necessary for the calculation of the rate of contributions-sharing referred to in the former part, with the exception of the subparagraphs, of paragraph (1) and the scale of shares in contributions according to financial institutions referred to in the latter part of, with the exception of the subparagraphs, that paragraph. In such cases, it shall, in advance, hear opinions of respective financial institutions. <Amended on Feb. 29, 2008>
Article 12-2(Composition and operation of Contributions-share Management Committee) #
(1) The contributions-share Management Committee under Article 47(2) of the Act (hereafter referred to as the "Committee" in this Article) shall deliberate on the following matters:
1.Subjects of the imposition of contributions-share and the rate system;
2.The level of imposition of contributions-shares and the mid- to long-term collection plan;
3.Budget guidelines for the following year to the Financial Supervisory Service;
4. Other matters referred by the Chairperson of the Committee as deemed necessary.
(2) The Committee shall be comprised of 7members, including 1 chairperson.
(3) The chairperson of the Committee shall be a person designated by the chairperson of the Financial Services Commission from among high-ranking public officials belonging to the Financial Services Commission, and the members of the Committee shall be persons commissioned by the chairperson of the Financial Services Commission from among private experts in the financial field recommended by the following persons: <Amended Dec. 30, 2025>
1. The Minister of Economy and Finance;
2. President of the Bank of Korea;
3. President of the Korea Deposit Insurance Corporation;
4. Chairman of Korea Federation of Banks;
5.President of Korea Financial Investment Association;
6. Chairman of Korea Life Insurance Association.
(4) The term of office of a member commissioned under paragraph (3) shall be three years, and the member may be consecutively reappointed only once.
(5) Where the Chairperson of the Commission is unable to perform his or her duties due to any extenuating circumstances, a member who has been designated in advance shall act on his or her behalf.
(6) The chairperson of the Committee shall convene and preside over meetings of the Committee.
(7) A majority of the members of the Committee shall constitute a quorum, and any decision thereof shall require the concurring vote of at least a majority of those present.
(8) When deemed necessary for deliberation on agenda items, the Committee may require related public officials and experts in relevant fields to attend meetings to hear their opinions.
Article 12-3(Public notice of budget and final accounts) #
(1) The Financial Supervisory Service shall give public notice of the following matters on its website: <Amended on Feb. 29, 2008>
1. Objectives of management and plans for the budget and operation;
2. Statement of final accounts (including financial statements as well as documents annexed thereto);
3. Status of executives and other employees;
4. Budgeted personnel expenses and the status of payment thereof;
5. Other matters determined by the Financial Services Commission.
(2) Matters concerning the standards, procedures, etc. for public notice under paragraph (1) shall be determined by the Financial Services Commission. <Amended on Feb. 29, 2008>
(3) If the Financial Supervisory Service is designated and publicly announced as a public entity under Articles 4 through 6 of the Act on the Management of Public Institutions, paragraphs (1) and (2) of this Article shall not apply.
[This Article Added on May 16, 2007]
[Moved from Article 12-2 <Aug. 21, 2018>]
Article 13 #
Deleted. <Mar. 23, 2021>
Article 14 #
Deleted. <Mar. 23, 2021>
Article 15 #
Deleted. <Mar. 23, 2021>
Article 16 #
Deleted. <Mar. 23, 2021>
Article 17 #
Deleted. <Mar. 23, 2021>
Article 18 #
Deleted. <Mar. 23, 2021>
Article 19 #
Deleted. <Mar. 23, 2021>
Article 20 #
Deleted. <Mar. 23, 2021>
Article 21 #
Deleted. <Mar. 23, 2021>
Article 22 #
Deleted. <Mar. 23, 2021>
Article 22-2(Handling of sensitive information and personally identifiable information) #
(1) Where unavoidable to perform the following affairs, the Financial Services Commission, the Securities and Futures Commission or Chairman may handle data which contains information on health under Article 23 of the Personal Information Protection Act, information constituting criminal history records provided in Article 18 of the Enforcement Decree of that Act, or a resident registration number, passport number, driver's license number, or alien registration number under Article 19 of that Decree: <Amended on Aug. 6, 2014; Feb. 12, 2016; Mar. 23, 2021>
1. Emergency measures and follow-up measures under Article 14 of the Act;
1-2. Among the affairs set forth in Article 17 and Article 37 of the Act, affairs regarding civil petitions treatment defined in subparagraph 1 of Article 2 of Civil Petitions Treatment Act;
2. Guidance and Supervision over the Financial Supervisory Service and the measures subsequent thereto under Articles 18 and 23 of the Act;
3. Registration under Article 27 of the Act;
3-2. Inspection and sanctions under Article 37 of the Act, report and submission of materials under Article 40 of the Act, and follow-up measures therefor;
4. Deleted; <Mar. 23, 2021>
5. Deleted; <Mar. 23, 2021>
6. Request for submission of materials and the submission thereof, and the measures subsequent thereto under Article 58 of the Act;
7. Report on the outcomes of the inspection and the relevant measures therefor, and the measures subsequent thereto under Article 59 of the Act;
8. Report, inspection, and the measures subsequent thereto under Article 60 of the Act;
9. Orders and the measures subsequent thereto under Article 61(1) of the Act;
10. Full or partial revocation, and the suspension of the execution, of any disposition imposed, and the measures subsequent thereto under Article 61(2) and (3) of the Act;
11. Cooperation in exchange of materials under Article 65 of the Act;
12. Request for investigation, submission of materials, and cooperation under Article 65-2 of the Act;
13. Request for cooperation under Article 67 of the Act (limited where necessary for conducting affairs under subparagraphs 1 through 3 of Article 37 of the Act).
Article 22-3(Period for compliance with request for inspection or joint inspection) #
By request for any inspection or joint inspection in accordance with the latter part of Article 62(1) of the Act, the Financial Supervisory Service shall, within one month upon receipt of such request, comply therewith.
[This Article Added on May 1, 2012]
Article 23(Scope of legal fiction as public officials in application of penalty provisions) #
Those employees who are deemed to be public officials in applying the penal provisions of the Criminal Act or other Acts under Article 69(2) of the Act shall be as follows; provided, all the employees of the Financial Supervisory Service shall be deemed to be public officials in applying Articles 129 through 132 of the Criminal Act: <Amended on May 16, 2007; Jul. 29, 2008>
1. Heads of offices (including those established under bureaus) and departments on the level of directors;
2. Heads of branches or sub-branches (including places of business);
3. Employees carrying out any examination, management guidance or management supervision with respect to financial institutions;
4. Employees carrying out any investigation of unfair transactions in a securities exchange or a derivatives market under financing-related Acts and subordinate statutes;
5. Other heads of departments other than offices and bureaus.
[This Article Added on May 29, 2000]