Online financial platforms such as Naver Financial and Kakao Pay are expected to suspend services that may violate the Financial Consumer Act this week.
On the 22nd, the Financial Services Commission announced the results of an inspection ahead of the end of the guidance period for the Financial Consumer Act (September 24).
First of all, the authorities stressed that online financial platforms, which have provided financial product-related services without meeting the registration requirements under the Financial Consumer Act, can be resumed only after the service is suspended from the 25th and reorganized to prevent illegality.
The authorities, however, will not take action against a company that has recently recognized the possibility of violating the Financial Consumer Act if it submits a plan first and reorganizes it into a legitimate service by the end of this year, even if it fails to correct it 25 days in advance.
The Financial Services Commission also said it plans to come up with measures to implement the mandatory explanations that will be applied in the online sales process by May next year.
Reporter Lee Ji-sun stockmk2020@gmail.com