According to South Korean media reports, Seo Jae-wan, assistant vice president of the Financial Supervisory Service (FSS), pointed out during a meeting with compliance officers from major securities firms on the 21st that while securities firms have benefited from the development of the capital market and achieved large-scale business expansion, there is also criticism within the industry regarding "self-interested" business practices such as inducing investors to engage in excessive credit and margin trading and shifting transaction fees and costs to customers. Furthermore, the FSS also reminded securities firms to pay attention to the recently resurgent upward trend in internal control risks related to overseas investments and requested a review of their investor protection procedures.
