[뉴스토마토 김보연 기자] The Financial Services Commission has decided to consider introducing a ‘banking agency’ so that big tech companies, post offices, telecommunications and distribution agencies can do banking work. It is also a policy to look into ways to expand the scope of business that financial companies can entrust to non-banks.
However, it is pointed out that the responsibility is ambiguous in the event of a financial accident due to a problem with the financial business consignee itself. There is no clear legal basis for sanctions against non-bank trustees. The financial authorities said that financial companies should be held accountable in principle.
The Financial Services Commission announced on the 8th that it held the 11th Working Group Meeting of the Banking Management, Sales Practices and System Improvement Task Force (TF) on the 7th and discussed these issues.
The current Banking Act does not allow bank agency business in practice. In the future, we plan to expand the range of tasks that can be entrusted, such as opening savings and savings accounts and lending, so that financial companies such as banks can collaborate with other financial companies and fintech.
Kang Yeong-soo, head of the Banking Division of the Financial Services Commission, said, “‘Naver Pay Money Hana Bankbook’, which was launched in partnership with Naver Financial and Hana Bank, has been designated as an innovative financial service and is being operated. It can be done,” he explained.
At the same time, banks will also allow joint agencies in the banking sector to be established through joint investment. This is a method in which commercial banks jointly set up agencies in islands and mountainous regions, or regional banks jointly set up agencies in Seoul.
Since non-banks are in charge of essential banking tasks such as opening and closing deposit and savings accounts and loans, the FSC is looking into the direction of operating trustees under the same authorization system as in the banking business. In addition, we plan to exclude the application of the ‘one-company exclusivity principle’ so that the business of several banks can be represented in one place. It is intended to operate like an insurance agency that handles products from multiple insurance companies.
If business consignment is concentrated or oligopolized by a small number of consignors, risks may increase and unfair transactions such as tying banking products and other business products may occur. I did.
The Financial Services Commission emphasized that it will block systemic risks that may arise from the expansion of business consignment and agency agencies, which are increasing as the scope of business consignment is expanded. It is intended to strengthen the management and responsibility of financial companies by maintaining a system in which financial companies indirectly control trustees.
However, it is pointed out that there is insufficient grounds for the financial authorities to legally sanction the trustee in the event of a financial accident at the trustee, not the financial company. Regarding this, the Financial Services Commission explained that “financial companies that failed to fulfill their management and supervision responsibilities after giving the business consignment are in principle responsible.”
“We will apply a sufficient level of obligations and regulations to third parties entrusted with or acting on behalf of banking business,” said Kim So-young, vice chairman of the Financial Services Commission.
Vice Chairman Kim So-young of the Financial Services Commission is presiding over the 11th working group meeting of the Bank Management, Sales Practices, and System Improvement TF held at the Seoul Government Complex on the 7th. (Photo = Financial Services Commission)
Reporter Kim Bo-yeon boyeon@etomato.com
This article was finally confirmed and corrected by Kim Eui-joong, head of the Finance and Securities Department, in accordance with the News Tomato Reporting Rules and Code of Ethics.
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2023-06-08 21:03:39
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