As noted in our previous legal update, various amendments to the Financial Investment Services and Capital Markets Act (the “Capital Markets Act”) were recently promulgated on May 28, 2013. This legal update is the second of a series of updates that will summarize the amendments made to the Capital Markets Act and discuss the major issues relating to such amendments.
The following is a summary of the amendments made to the private equity fund provisions of the Capital Markets Act.
- Establishment of a Registration System for Managers of Private Equity Funds
- Specification of Investment Requirements with respect to Mezzanine Securities
- Obligation to Report Borrowings or Guarantees of Debt by Private Equity Funds
