Financial institutions, securities companies, and banks must register with the Financial Services Agency.

Recent amendments to the Law on Securitization of Specified Assets by Special Purpose Companies (SPC Law) allows for a change to the procedures for establishing a special purpose company for securitization of assets. Once implemented, the procedures will be simplified from the current registration system to a notification system with the Ministry of Trade and Industry (MITI) and Ministry of Finance. An unofficial and provisional translation by the Ministry of Finance of the outline of the Amendment Bill is provided at the link below.