[Consulting] PEF's GP Registration

Law firm Veat recently received a mandate from D, which operates an investment management business, and proceeded with the new registration procedure for the operation manager (hereinafter GP) of a private equity fund (hereinafter PEF) as stipulated in the “Act on Capital Markets and Financial Investment.” We received notification from the Financial Supervisory Service on December 21, 2018, that D was registered as an operation manager.

After receiving a mandate from D, Law firm Veat provided legal advice based on Article 249-15 of the “Act on Capital Markets and Financial Investment,” regulations related to securities investment businesses, etc., to ensure that the GP registration process could be completed quickly and accurately.

This case had a unique aspect, in that the company, which previously operated an investment management business, was seeking GP registration, which differed from the new registration of a typical full-time GP. In particular, we carefully reviewed issues related to internal controls, such as the conflict of interest prevention system, in preparation for potential issues.

Furthermore, Law firm Veat quickly provided advisory opinions regarding capital market law issues for which D received a supplementary request from the Financial Supervisory Service, enabling the registration process to proceed smoothly.

If you need legal advice regarding PEF GP registration, please feel free to contact us at any time.

Thank you.

Law firm Veat