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| Article 26 (Keeping, Maintenance, and Management of Records) |
| (1) | "Records prescribed by Presidential Decree" in the main clause of Article 28 (1) of the Act means the following data: |
| 1. | Records on the conclusion of contracts; |
| 2. | Records on the performance of the contract; |
| 3. | Records on advertising financial products, etc.; |
| 4. | The following records on the exercise of rights by financial consumers: |
| (a) | Records on the postponement, restriction, and refusal of access to records of financial consumers pursuant to the latter part of Article 28 (4) and Article 28 (5) of the Act; |
| (b) | Records on the withdrawal of an offer under Article 46 of the Act; |
| (c) | Records on the termination of illegal contracts under Article 47 of the Act; |
| 5. | Records on the establishment, operation, etc. of internal control standards; |
| 6. | Matters regarding the entrustment of business affairs; |
| 7. | Other persons determined and publicly notified by the Financial Services Commission as similar to those under subparagraphs 1 through 6. |
| (2) | "Period prescribed by Presidential Decree" in Article 28 (1) of the Act means ten years. |
| 1. | Records in paragraph (1) 1 and 2: Periods as classified as follows: |
| (a) | In cases of an indemnity product, the indemnity period of which exceeds ten years: The indemnity period of the relevant indemnity product; |
| (b) | In cases of a financial instrument, the contract period of which exceeds ten years: The contract period of the relevant financial instrument; |
| 2. | Records referred to in paragraph (1) 5: The period determined and publicly notified by the Financial Services Commission within the limit of five years; |
| 3. | Records referred to in paragraph (1) 7: The period determined and publicly notified by the Financial Services Commission within the limit of ten years; |
| (3) | Where a financial consumer intends to request inspection of records pursuant to Article 28 (3) of the Act, he or she shall submit a written request for inspection determined and publicly notified by the Financial Services Commission to a financial product distributor or advisor. In such cases, the relevant written request shall include matters concerning the purpose, scope, method, etc. of such inspection. |
| (4) | Upon the receipt of a financial consumer's request for inspection of data pursuant to paragraph (3), a financial product distributor or advisor shall make the relevant records available to the financial consumer within six business days from the date of receipt of the request. <Amended on Aug. 1, 2023> |
| (5) | Where a financial product distributor or advisor gives notice of inspection, postponement of inspection, and restriction or refusal of inspection under Article 28 (4) through (6) of the Act, he or she shall make such notification in writing, as determined and publicly notified by the Financial Services Commission. |
| (6) | "Cases prescribed by Presidential Decree" in Article 28 (5) 3 of the Act means any of the following: |
| 1. | Where trade secrets defined in subparagraph 2 of Article 2 of the Unfair Competition Prevention and Trade Secret Protection Act are likely to be substantially infringed; |
| 2. | Where there is a risk of unreasonable infringement on privacy or freedom due to disclosure of personal information; |
| 3. | Where it is obvious that records to be inspected are irrelevant to the purpose of inspection; |
| (7) | Where a financial product distributor or advisor requests a financial consumer to charge fees or postal charges pursuant to Article 28 (6) of the Act, he or she shall charge an amount based on actual expenses. In such cases, if necessary for the efficient operation of the affairs of inspection, fees or postal charges may be claimed in advance. |
| (8) | Except as provided in paragraphs (1) through (7), details of matters necessary for the scope of records to be kept and the methods and procedures for inspection of records shall be determined and publicly notified by the Financial Services Commission. |