The revisions will enhance oversight and risk assessment of private equity funds, and prevent illiquid funds from being marketed to retail investors.
October 2, 2020The FSS reportedly wants to determine why redemptions in some structured notes linked to Singapore trading firms have been frozen.
August 10, 2020The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.
July 31, 2020Any misconduct detected during the probe will be referred to prosecutors and follow-up efforts will be made to protect investors. The probe is expected to continue until 2023.
July 21, 2020KOFIA will prevent moral hazard in the hedge fund industry by providing consulting services and strengthening the role of prime brokers, intermediaries and fund managers in monitoring efforts.
July 17, 2020Large losses on leveraged positions at Hong Kong-based Gen2 Partners earlier this year prompted a liquidity squeeze and a freeze on early redemptions.
July 7, 2020A 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, 2020Twenty firms, including banks and brokers, will set up a new entity to manage the estimated 1.7tr won in assets frozen by Lime Asset Management since October.
June 11, 2020FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year's derivative product mis-selling at banks.
April 29, 2020Private equity funds will have to undergo regular audits, adopt new valuation guidelines, conduct regular liquidity stress tests, and cap leverage at 400% of assets, among other measures.
April 27, 2020