[Asia Economy Reporter Park Jihwan] The Financial Supervisory Service (FSS) will conduct an on-site investigation on the 9th regarding the suspension of redemptions of Lime Asset Management's private equity funds. Lime Asset Management and Shinhan Financial Investment are among the targets.
According to financial authorities on the day, the FSS will carry out the on-site investigation, which was delayed by about a month from early March due to the impact of the novel coronavirus disease (COVID-19) outbreak.
The FSS plans to first examine Lime Asset Management and Shinhan Financial Investment. This is to facilitate dispute resolution related to incomplete sales concerning the trade finance fund ('Pluto TF-1').
Starting from the 20th, the FSS will sequentially investigate banks and securities firms that acted as sales agents.
The FSS aims to complete dispute resolution related to incomplete sales within the first half of the year through on-site investigations and legal consultations.
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