The Korea Financial Investment Association (KOFIA, Hangeul: 금융투자협회) is a non-profit,

self-regulatory organization A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to governmen ...

(SRO) in

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

, founded under the Financial Investment Services and Capital Markets Act. It was established on February 4, 2009 through the merger of the Korea Securities Dealers Association, the Korea Futures Association, and the Asset Management Association of Korea.

Overview

KOFIA’s goals are to ensure fair business practices among members, the fair trading of securities and investor protection, and the development of the nation’s capital market and financial investment services industry. KOFIA performs five major functions: self-regulation, market management, upgrading the financial investment industry, the education and training of professionals, and fostering a sound investment culture. As the primary SRO, KOFIA oversees a wide spectrum of areas in the Korean financial investment industry. All securities, asset management and futures firms in Korea are KOFIA members and are subject to KOFIA’s self-regulatory operations. Previously having launched

KOSDAQ KOSDAQ (acronym of Korean Securities Dealers Automated Quotations, Korean: 코스닥) is a trading board of Korea Exchange (KRX) in South Korea established in 1996. Initially set up by Korea Financial Investment Association as an independent st ...

, KOFIA is now operating FreeBoard, an OTC Bulletin Board, and the OTC

Bond Market The bond market (also debt market or credit market) is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is usually in the form of bonds, bu ...

. KOFIA offers services such as making policy recommendations, providing member services and guiding the globalization of the Korean financial industry. By operating the Korea Institute of Financial Investment (KIFIN), KOFIA cultivates industry professionals. As a founding member of the International Forum for Investor Education (IFIE), KOFIA established the Korea Council for Investor Education (KCIE), which works to instill a sound investment culture, pioneering investor education in Korea. KOFIA consists of 244 members as of the end of July 2009. KOFIA also oversees the licensing of investment professionals such as Certified Securities Investment Advisors and Certified Derivatives Investment Advisors.

History

Korea's Financial Investment Services and Capital Markets Act was enacted to advance the Korean financial market by improving the competitive edge of the nation's capital market and financial investment industry. In response, the Korea Securities Dealers Association, the Asset Management Association of Korea and the Korea Futures Association merged to form the Korea Financial Investment Association (KOFIA) in February 2009.Introduction to KOFIA
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References

External links

Korea Financial Investment Association
{{DEFAULTSORT:KOFIA Organizations established in 2009 Finance in South Korea Non-profit organizations based in South Korea Self-regulatory organizations Financial regulatory authorities Arbitration organizations 2009 establishments in South Korea Regulation in South Korea