A new inter-agency team, led by the FSS, will be established by mid-July, and refer any illegalities detected to authorities for 'swift action' including prosection.
July 5, 2020Investigators were dispatched to both firms to secure computer drives and documents linked to alleged misselling and fraud at both firms.
February 20, 2020The FSC will cap illiquid investments at 50% for open-ended funds, require them to conduct regular stress tests, raise transparency of complex fund structures, and enhance supervisory monitoring.
February 15, 2020Investors are reportedly preparing for a suit against banks which sold them loss-making funds from Lime Asset Management without properly disclosing the risks.
January 9, 2020Lime Asset Management suspended redemptions in three funds in October. One of them had 240bn won invested with New York-based IIG, which has since been charged with securities fraud.
January 6, 2020