The FSS will be led by former prosecutor Lee Bok-hyun, while the FSC will be led by Kim Joo-hyun, who helped guide Korea through the 2008 crisis.
June 21, 2022NH Investment & Securities cannot sell new private equity funds for three months. Hana Bank cannot be appointed as a fund trustee for three months.
March 4, 2022The FSC has also fined Optimus and ordered board member removals, over "numerous counts of violations and inappropriate fund management activities".
November 26, 2021A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.
June 29, 2021An FSS arbitration panel has advised NH Investment to pay full compensation to two investors for failing to properly explain the risks of Optimus funds.
April 9, 2021The minimum required capital will be raised from 100mn to 300mn won. Private equity funds with high leverage will need 500mn won.
February 4, 2021The FSS said it will impose sanctions on companies identified as being engaged in such practices, including to refer cases for criminal prosecution as needed.
January 5, 2021The FSS has estimated that 160bn won of investor funds has vanished and only up to 15% of the remaining 350bn won could be recoverable.
November 12, 2020The revisions will enhance oversight and risk assessment of private equity funds, and prevent illiquid funds from being marketed to retail investors.
October 2, 2020Prosecutors are looking to determine whether the bank purchased privately placed bonds under Optimus’ request or instruction.
October 1, 2020