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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Seoul probes KIC’s investment in Merrill Lynch

Posted on 25 January 2010

From Koreaherald.co.kr: The Board of Audit and Inspection of Korea has begun investigating the nation’s sovereign wealth fund’s $2 billion investment in Merrill Lynch in 2008, government officials said yesterday.

According to officials at the Finance Ministry and the Korea Investment Corp., the BAI started the audit on the KIC this week, particularly focusing on the fund’s decision making process regarding investment in Merrill Lynch………………..Full Article: Source

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