In order to strengthen the communication with securities firms and improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors of 24 securities firms on Nov. 12, 2019.

The session topics included primary examination findings of brokerage business, the key points of improvements for examination findings and the introduction of a draft Whistleblower Protection Act.

During the meeting, the FSC exchanged a wide range of opinions on topics, including recent supervisory issues and critical audit matters with all participants. With two-way communication, it allowed financial institutions to gain a better understanding about the supervisory concerns and the examination focuses.