Korea Financial Investment Association
Encyclopedia
The Korea Financial Investment Association (KOFIA) is a non-profit, self-regulatory organization
(SRO) in South Korea
, founded under the Financial Investment Services and Capital Market 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.
KOFIA performs five major functions: self-regulation, market management, upgrading the financial investment industry, education and training of professionals, and fostering a sound investment culture As a 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 the KOFIA’s self-regulatory operations.
Previously having launced KOSDAQ
, KOFIA is now operating the FreeBoard, an OTC
Bulletin Board, and the OTC
Bond Market
. 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 licensing of investment professionals such as Certified Securities Investment Advisor
s and Certified Derivatives Investment Advisors.
Self-regulatory organization
A self-regulatory organization is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could be applied in addition to some form of government regulation, or it could fill the vacuum of an absence of government oversight and...
(SRO) in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
, founded under the Financial Investment Services and Capital Market 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.
Overview
KOFIA’s ensures fair business practice among members, the fair trading of securities and investor protection, and developing the nation’s capital market and financial investment services industry.KOFIA performs five major functions: self-regulation, market management, upgrading the financial investment industry, education and training of professionals, and fostering a sound investment culture As a 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 the KOFIA’s self-regulatory operations.
Previously having launced KOSDAQ
KOSDAQ
KOSDAQ is a trading board of Korea Exchange in South Korea established in 1996. Initially set up by Korea Financial Investment Association as an independent stock market from the Korean Stock Exchange, it was benchmarked from the American counterpart, NASDAQ.KOSDAQ is an electronic stock market,...
, KOFIA is now operating the FreeBoard, an OTC
OTC
OTC may refer to:* Oakwood Technology College* Owatonna Tool Company* Oklahoma Tax Commission* Odenton Town Center* Officer in Tactical Command* Officer Training Corps* Offshore Technology Conference* Ohio Turnpike Commission...
Bulletin Board, and the OTC
OTC
OTC may refer to:* Oakwood Technology College* Owatonna Tool Company* Oklahoma Tax Commission* Odenton Town Center* Officer in Tactical Command* Officer Training Corps* Offshore Technology Conference* Ohio Turnpike Commission...
Bond Market
Bond market
The bond 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, usually in the form of bonds. The primary goal of the bond market is to provide a mechanism for long term funding of public and...
. 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 licensing of investment professionals such as Certified Securities Investment Advisor
Certified Securities Investment Advisor
In South Korea, a Certified Securities Investment Advisor is a certified professional permitted to offer investment advice to clients and to accept purchase and sale orders for certain financial products on their behalf...
s and Certified Derivatives Investment Advisors.