Optimus Asset Management Suspended from Operations for 6 Months

[Asia Economy Reporter Ko Hyung-kwang] Optimus Asset Management, which recently caused a large-scale suspension of redemptions, has been ordered to suspend operations for six months.

The Financial Services Commission (FSC) held an extraordinary meeting on the 30th and announced that it had resolved to impose a full suspension of operations on Optimus Asset Management until December 29.

The FSC explained, "Most of the executives and employees have resigned, and with the ongoing prosecution investigation, there are serious concerns about a management and operation gap in the fund. This measure is to protect investors and prevent gaps in fund management and operation."

Earlier, the Securities and Futures Commission under the FSC also held an extraordinary meeting and resolved on this matter.

The FSC ordered Optimus to suspend all operations under the Capital Markets Act, including collective investment business, professional private equity investment business, and concurrent operations, for six months from June 30 to December 29 of this year.

However, some necessary operations for investor protection, such as exercising rights to protect fund assets and operations recognized by the Financial Supervisory Service (FSS) Chairman, were permitted.

This includes distribution of fund assets to investors, administrative tasks for exercising customers' rights, and administrative tasks related to exercising the company's rights.

Additionally, the execution of duties by all executives, including the CEO, was suspended for six months, and a manager was appointed to act on behalf of the executives.

This content was produced with the assistance of AI translation services.