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| Article 16 (Prohibition of Unfair Solicitation) |
| (1) | "Acts prescribed by Presidential Decree" in the proviso, with the exception of the subparagraphs, of Article 21 of the Act means the following: <Amended on Dec. 8, 2022> |
| 1. | Acts referred to in subparagraph 6 (a) of Article 21 of the Act with respect to investment products classified as follows (applicable only to cases where financial consumers are informed in advance of matters determined and publicly notified by the Financial Services Commission, such as the type and content of the financial product to be solicited and the relevant financial consumer expresses his or her intention to be solicited to conclude a contract); |
| (a) | For professional financial consumers, investment products excluding over-the-counter derivatives and linked investments; |
| (b) | For ordinary financial consumers, investment products excluding the following financial products: |
| (i) | Over-the-counter derivatives and linked investment; |
| (ii) | Over-the-counter derivatives under the Financial Investment Services and Capital Markets Act; |
| (iii) | Collective investment securities of a general private equity fund under the Financial Investment Services and Capital Markets Act; |
| (iv) | Highly complex financial investment instruments, highly complex discretionary investment contracts, and highly complex money trust contracts under the Enforcement Decree of the Financial Investment Services and Capital Markets Act; |
| 2. | Acts under subparagraph 6 (b) of Article 21 of the Act regarding other financial products determined and publicly notified by the Financial Services Commission; |
| 3. | Where a period determined and publicly notified by the Financial Services Commission elapses after a financial consumer who has been solicited to conclude a contract for an investment product expresses his or her intention to reject such solicitation, an act under subparagraph 6 (b) of Article 21 of the Act with respect to the relevant product; |
| (2) | "Person prescribed by Presidential Decree" in subparagraph 5 (a) of Article 21 of the Act means a person entitled to indemnity pursuant to the contract for the relevant indemnity product. |
| (3) | "Acts prescribed by Presidential Decree" in subparagraph 7 of Article 21 of the Act means any of the following acts: |
| 1. | An act of having a person who has not received job performance training in accordance with internal control standards to perform work related to soliciting contract conclusion; |
| 2. | Soliciting by fabricating information on ordinary financial consumers under article 17 (2) of the act; |
| 3. | Providing guidance on loan products or information related thereto not requested by ordinary financial consumers, while soliciting the conclusion of a contract for investment products; |
| 4. | Other acts determined and publicly notified by the Financial Services Commission, as similar to those referred to in subparagraphs 1 through 3, which impede the rational judgment of financial consumers on financial products; |