Legal Compliance

KGI Life draws up and implements a compliance plan each year, evaluating the inherent risk, control effectiveness, and residual risk of each department through compliance risk assessments. For departments identified as high risk, the Company reviews their control measures and operational procedures in order to strengthen control effectiveness. KGI Life also uses a Regulatory Change Management System to establish a standardized review process, ensuring that operations and internal regulations are updated promptly in line with regulatory changes.

Cross-departmental meetings are held regularly to exchange views on compliance matters, sharing peer penalty cases to raise risk awareness. By participating in the early stages of new product and service development, the compliance unit provides timely compliance advice. Through education and training and compliance self-assessments, KGI Life mitigates compliance risk and ensures that the system continues to improve.

To deepen its commitment to sustainable operations, KGI Life provides targeted training and awareness sessions for different audiences. Topics include emerging financial regulation for the application of artificial intelligence, employee confidentiality, treating customers fairly, ethical management, financial consumer protection, personal data protection, transactions with interested parties, the Foreign Account Tax Compliance Act (FATCA), the Regulations Governing the Implementation of the Common Standard on Reporting and Due Diligence for Financial Institutions, analysis of peer penalties, and overviews of new laws and self-regulatory norms. Post-training assessments are used to reinforce the effectiveness of the training.

To strengthen its agents' own compliance awareness and to reinforce ethical management, anti-corruption, and the code of conduct, KGI Life requires all agents to adhere to laws and regulations when soliciting business and providing services.