[Consulting] Review of whether or not they are a similar investment advisory firm

In recent years, the number of companies providing information on financial investment products through various media such as TV, internet broadcasting, and web pages has rapidly increased. The Act on Capital Markets and Financial Investment Businesses (Capital Markets Act) defines such activities as providing investment decisions or advice on the value of investment products as quasi-investment advisory services, and requires those engaging in quasi-investment advisory services to register with a financial supervisory authority. Company A operates an application providing information on stock listings and has established a plan to provide new-style stock listing content to its members.

However, concerns arose regarding whether the services Company A intended to provide would constitute quasi-investment advisory activities. Consequently, Company A requested Law firm Veat to conduct a legal review of the services. In response, Veat reviewed whether the activities fell under quasi-investment advisory services, referencing relevant laws under the Capital Markets Act and related practical materials from the financial supervisory authority. By providing legal advice regarding factors to consider if the activities were deemed quasi-investment advisory services, Veat helped Company A establish a business model allowing them to seamlessly provide services to its customers.

Thank you.

From Law firm Veat