South Korea cracks down on noncompliant private equity fund firms

Authorities first introduced the cancellation scheme in October 2021.

South Korean financial authorities revealed that they have canceled the registration of 10 general private equity fund businesses since 2021.

A business entity that has been cancelled is prohibited from engaging in the financial investment business.

First introduced in October 2021, financial authorities introduced an ex officio cancellation scheme as a result of the supposed number of businesses who had to suspend businesses due to poor performance or failed to satisfy requirements for maintaining registration.

The Financial Services Commission further reminded consumers to check first whether the entity they plan to make a transaction with is registered with it.

“The Financial Supervisory Service will strive to eliminate unqualified entities promptly to create a dynamic market environment where qualified companies can be recognized and prosper,” the FSS said in a statement published on its website.

Also Read

EnterpriseSG and CEB to boost financing for Singapore firms' overseas expansion

Why do CFOs struggle with sustainability reporting requirements?

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit