South Korea – FSC Capital Market Disclosures

South Korea – FSC Capital Market Disclosures

On 22 February 2021, SK FSC proposed amendment on disclosure regulations.

  • SK FSC announced partial amendment to capital market research business regulations.
  • As stock market volatility has increased, so has the need to strengthen investor protection, as well as improve the effectiveness of penalties for disclosure violations.


  • Rate of imposition of penalties on collective investment securities is newly established.
  • New standards for imposing penalties are added so that unfair gains due to avoidance of public offering regulations can be taken into account even for directors of business.
  • Penalties may be increased for repeated violations and long-term reporting delays.
  • Fines for unlisted companies who routinely violate obligation to submit regular reports.


  • Opinions on this matter should be submitted by 3 April 2021.