Is a new private fund reported to the financial authorities?

Yes. A general private fund must be reported to the Financial Services Commission within 2 weeks from the date it is established, and if any reported matter changes, a change report must be filed within 2 weeks.

Some funds, such as management-participation funds in which affiliates of large business groups invest above a certain proportion, must be reported without delay after establishment. If a fund is not reported or is reported falsely, the Financial Services Commission may order the fund to be terminated or dissolved.