Financial Authority Inspection Response
We protect the legal rights of virtual asset service providers
in inspections and sanction proceedings by the FSC and FIU.
Overview
As financial authority supervision of virtual asset service providers (VASPs) intensifies, systematic responses to regulatory risks — including inspections by the Financial Supervisory Service and the Financial Intelligence Unit (FIU), corrective orders, imposition of fines and administrative penalties, and revocation of business licenses — have become essential.
PYEONG AN supports VASPs through the entire financial authority engagement process, with attorneys well-versed in financial supervisory practice handling pre-inspection preparation, developing response strategies during inspections, advising on compliance with corrective demands, and pursuing challenges to sanction dispositions (administrative appeals and administrative litigation).
Key Practice Areas
- Pre-inspection preparation and response to FSS/FIU inspections
- Advisory on compliance with corrective demands following inspection results
- Challenges to imposition of fines and administrative penalties
- Challenges to revocation of business licenses (administrative appeals and administrative litigation)
- Adequacy assessment of internal controls and AML frameworks
- Advisory on responses to financial authority inquiries and reporting obligations