[Counsel] Legal counsel on registration of General Partner (GP) newly elected for management participation-format PEF

VEAT Law Firm recently assisted with the registration of Company D in running a Discretionary Investment Service business as General Partner (hereafter "GP") of a PEF oriented to management participation under the Act on Capital Market and Financial Investment Service (hereafter "PEF") as requested by Company D, and was notified by the Financial Supervisory Commission on December 21, 2018 that Company D had been duly registered as the GP of the PEF.

VEAT Law Firm provided legal counseling for rapid and accurate GP registration based on Article 249-15 of the Act on Capital Market and Financial Investment Service and regulations concerning the financial investment service after being entrusted by Company D.

This case was peculiar or different from the registration of an ordinary full-time GP, as a company already running a discretionary investment service business was to be registered. In particular, the lawyers examined the case in preparation against the possibility that issues related to internal control would arise with the fund's conflict of interest safeguard system.

In addition, the registration process progressed smoothly as VEAT Law Firm attorneys quickly presented advisory opinions concerning the issues related to the Capital Market Act, for which Company D was requested by the Financial Supervisory Commission to supplement the application documents.

Those in need of legal counseling for PEF, GP registration are invited to contact us at their convenience.