Measures for the Administration of Private Equity Funds of Securities and Futures Operating Institutions

Article 25 Securities and futures trading institutions and sales institutions shall not publicly sell asset management plans to unspecified objects or publicize specific asset management plans through newspapers, radio, television, the Internet and other media, or lectures, reports, leaflets, notices, or from the media.

Securities and futures operating institutions shall not set up multiple asset management plans and invest in the same non-standardized assets at the same time, thus breaking through the limit of the number of investors or other regulatory requirements in disguise. Non-standardized assets of a single entity and its related parties are regarded as the same non-standardized assets.