China announced the regulations on the supervision and management of private equity fund, which clearly delineates the obligation of private equity fund managers and custodians, and the state will also provide policy support to the Venture Capital Fund.
According to Xinhua News Agency on Sunday (July 9), Prime Minister Li Qiang of the State Council of China signed the State Council Order to announce the regulations on the supervision and management of private equity investment funds and implement them from September 1.
Reported that specialized administrative regulations are formulated, and the business activities of private equity funds are included in the rule of law and standardized tracks for supervision.Give play to the role of serving the real economy and promoting technological innovation.
Private equity funds in different organizations such as contract types, corporate types, and partnerships are included in the scope of applicable.The regulations also stipulate that funds raised funds in non -public ways, set up investment funds or set up companies and partnerships in accordance with the purpose for the purpose of conducting investment activities. They are managed by private equity fund managers or ordinary partners.Essence
The regulations clearly determine that they must not become relevant subjects such as private equity fund managers and their controlling shareholders, actual controllers, directors, supervisors, and senior managers.Professional ability training.
The new regulations also stipulate that private equity fund managers should perform registration procedures with institutions entrusted by the State Council's securities supervision and management agency, and clearly delineate the situation of cancellation registration.The regulations list the behavior of shareholders, actual controllers, and partners of private equity managers, and clearly delineate the duties of private equity fund managers that should continue to meet, as well as private equity fund managers and private equity custodians.
Regulations also standardize fundraising and investment operations.Private equity funds shall be raised or transferred to qualified investors. Investors with a single private equity fund shall not exceed the number of people stipulated in the law.Private fund managers shall match private equity investment fund products based on investor risk recognition ability and risk bearing capabilities.Strengthen the supervision and monitoring of the private equity fund raised.Clarify the scope of the property investment of the private equity fund and the business that cannot be operated, and stipulate the investment level of the private equity fund.Standardize the behavior of private equity fund managers and their employees.
According to the new regulations, the state provides policy support to the Venture Capital Fund, and encourages and guides its investment growth and innovative entrepreneurial enterprises.Strengthen the coordination of supervision and management policies and development policies, clarify the conditions that the entrepreneurial investment funds should meet, and implement differentiated supervision and management and self -discipline management of the implementation of entrepreneurial investment funds from other private equity funds.
The new regulations also stipulate that the supervision and management of the business activities of private equity funds shall implement the CCP and the national route policies, policies, and decision -making and deployment.Clarify the supervision responsibilities and regulatory measures of the State Council's securities supervision and management agencies.The State Council's securities supervision and management agency, together with relevant departments of the State Council and the provincial government, establish private equity fund supervision and management information sharing, statistical data reporting, and risk disposal cooperation mechanism.In addition, it clearly stipulates the legal responsibility that violates these regulations.
The draft regulations was reviewed and approved by the State Council's executive meeting on June 16.According to the China News Agency, Jiao Jinhong, chief lawyer of the China Securities Regulatory Commission, said that the regulations of the private equity fund supervision and management regulations include the business activities of the private equity investment fund into the rule of law and standardized tracks for supervision.
