The Financial Supervisory Service conducts a full investigation into real estate fund managers' alleged illegal investment
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
김지선
stockmk2020@alphabiz.co.kr | 2023-04-12 06:47:57
[Alpha Biz=(Chicago) Reporter Kim Jisun] The Financial Supervisory Service has launched a full investigation into asset management companies over allegations that real estate fund managers have made inappropriate personal investments.
According to the financial investment industry and financial authorities on the 11th, the FSS asked all asset management companies in Korea last month to submit the status and size of their fund investments by executives and managers.
In particular, the FSS will focus on suspicions that some real estate fund management stations have sought inappropriate private interests through their own management funds.
It is also expected to be subject to inspection whether the management stations have made illegal investments using profit-loss differential funds that divide profits and losses into priority (type 1) and subordinate (type 2).
"We will focus on ordinary investors and real estate funds with large information asymmetry," a Financial Supervisory Service official said.
The Financial Supervisory Service plans to analyze the submitted data and take follow-up measures, including on-site inspections, if illegal circumstances are found.
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