| (1) | Every financial product distributor or advisor shall keep records of the information specified by Presidential Decree about business activities of the financial product distribution business or the financial product advisory business and shall maintain and manage such records for the period specified by Presidential Decree for each type of information. |
| (2) | Every financial product distributor or advisor shall establish and implement measures appropriate for preventing the records that shall be kept, maintained, and managed under paragraph (1) from being destroyed, falsified, or altered. |
| (3) | A financial consumer may request a financial product distributor or advisor to allow him or her to inspect (including provision of copies, hearings; hereafter the same shall apply in this Article) the records that shall be kept, maintained, and managed by the financial product distributor or advisor under paragraph (1), for the purpose of seeking remedies for his or her rights, including mediation in a dispute or litigation under Article 36. |
| (4) | Upon the receipt of a financial consumer’s request for inspection under paragraph (3), a financial product distributor or advisor shall allow the financial consumer to inspect relevant records within the period specified by Presidential Decree for each type of information within a maximum of 10 days from the date the financial product distributor or advisor receives such request. If it is impracticable to allow inspection within such period due to good cause in such cases, the financial product distributor or advisor may notify the financial consumer of such cause and postpone inspection but shall allow the financial consumer to inspect the relevant records, without delay, when such cause ceases to exist. |
| (5) | In any of the following cases, a financial product distributor or advisor may restrict inspection or refuse to allow inspection by notifying the financial consumer concerned of the ground for such restriction or refusal: |
| 1. | Where a financial product distributor or advisor may restrict inspection or may refuse to allow inspection under a statute or regulation; |
| 2. | Where inspection is likely to be harmful to the life or body of any other person or is likely to unfairly violate property or an interest of any other person; |
| (6) | When a financial consumer requests a financial product distributor or advisor to allow inspection, the financial product distributor or advisor may charge fees and postal charges (applicable only where mailing copies is requested) in accordance with Presidential Decree. |
| (7) | Necessary matters concerning the methods and procedures for the requesting of, the restriction on, and the notification of, inspection under paragraphs (3) through (5) shall be prescribed by Presidential Decree. |
[Enforcement Date: Sep. 25, 2021] Article 28