Financial authorities ordered stronger internal controls ahead of the introduction of an asset management firm responsibility map in July. A responsibility map is a system that structurally manages accountability by clearly designating in advance the key decision-makers and person in charge for each task within a financial company.
The Financial Supervisory Service and the Korea Financial Investment Association said on the 22nd that they held the 2026 asset management company compliance officer workshop at the Financial Supervisory Service headquarters and shared ways to strengthen internal control capabilities in the asset management industry and industry issues. About 350 employees involved in related work, including officials from the Financial Supervisory Service, the Korea Financial Investment Association, and compliance officers at asset management firms, attended the workshop.
The Financial Supervisory Service emphasized that enterprise-wide support is needed for an effective operation of the responsibility map. Starting in July, the responsibility map will also be implemented for small and midsize financial investment businesses, including asset management firms.
They also shared examples of findings from inspections that arose during fund management. The Financial Supervisory Service provided guidance on recurring violation types related to the Financial Investment Services and Capital Markets Act, such as breaches of collective investment regulations and violations of disclosure obligations related to voting rights, and conveyed points to note. In addition, the agency asked companies to strengthen management at the corporate level to prevent violations of reporting obligations due to unfamiliarity with laws and regulations.
As the exchange-traded fund (ETF) market has grown rapidly, authorities also called for management of liquidity and tracking error during operations. In particular, the need was stressed to strengthen risk management and internal controls in the operation of liquidity providers (LPs) and authorized participants (APs).
The Financial Supervisory Service said, "This workshop is a venue for communication to share key issues in the asset management industry, such as AI, ETFs, and the responsibility map, and ways to strengthen internal controls," adding, "Going forward, the financial authorities and the industry will continue to work to strengthen investor protection and enhance trust in the capital market."