Korean watchdog advances plans for onshore hedge funds
A capital law revision by the Financial Services Commission, which it says will foster a domestic hedge fund sector, could be launched as early as the end of this year.
South Korean asset managers are warily awaiting possible regulatory changes that would pave the way for the development of an onshore hedge fund sector.
Financial Services Commission (FSC) chairman Kim Seok-dong, speaking at a recent hedge fund seminar in Seoul, says he has submitted an amendment to the enforcement decree of the capital market law, which would enable funds to leverage up to 400% of total assets.
More importantly, it would also remove a stipulation that each fund…
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