The financial watchdog highlights the need to address conflicts of interest with financial consumers.
The Financial Supervisory Service (FSS) of South Korea is proposing to establish a new evaluation system to assess whether consumer protection indicators across the entire financial product lifecycle are ‘faithfully reflected’ in the performance compensation system. In a Wednesday (29 April) meeting with chief consumer officers from 84 financial firms, Korea’s financial watchdog criticised the previously undervalued role of performance compensation systems in product planning