[Apha Biz=(Chicago) Reporter Paul Lee] The Task Force (TF), a special investigation team for private equity management at the Financial Supervisory Service, which is set to end operations at the end of this year, released the interim inspection results. According to him, from the case of hiding the insolvency of the workplace and deceiving investors to the case of major shareholders misappropriating fund funds through special purpose companies (SPCs).

The Financial Supervisory Service said it would introduce a "one-strike out system" while warning strict sanctions against private equity fund managers who committed illegal activities.

On the 1st, the Financial Supervisory Service's Special Investigation Team for Private Equity Management disclosed four representative intellectual cases detected during the full inspection. The inspection team, which was launched in 2020 when the private equity fund scandal erupted, will end operations at the end of this year.

The inspection team TF is conducting a full inspection based on the number of private equity firms registered at the end of 2020. However, new operators are also subject to monitoring. The number of private equity firms stood at 376 as of the end of June, up 124 from 252 at the end of 2020. This is due to the growing demand for priority allocation of public offering shares as institutional investors due to the craze for investment in public offering shares. The inspection team will announce the final test results at the end of the year.

 

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