To safeguard consumer interests, the FSC on February 24, 2020 amended the “Directions for the Separate Account Custodian Institutions and Investment Instruments of the Investment-linked Insurance” to require that, among the securities investment trust fund beneficial certificates linked to investment-linked insurance products, for those that are bond funds with a stipulated final settlement day, the sovereign rating of the government bonds and treasury bills that the bond funds have invested must be BBB+ or higher (or, for bonds other than government bonds and treasury bills, the issue rating must be BBB+ or higher), and the total amount of such investments must not exceed 40% of the fund''s net asset value. In addition to coordinate with the amendment to the aforementioned Directions, the FSC on February 24, 2020 also amended the “Directions for the Review of Life Insurance Products” by revising the list of supporting documents that must be submitted along with an application for review of an investmentlinked insurance product.