1. What is the nature of private investment fund manager registration and fund filing?
A: Private fund manager registration and private fund filing are not administrative licensing matters. According to the Securities Investment Fund Law, the Notice of the Central Committee on the Division of Responsibilities of Private Equity Fund Management, the authorization of the China Securities Regulatory Commission and the relevant provisions of the Measures for the Registration and Filing of Private Equity Fund Managers (Trial) (hereinafter referred to as the Measures), the fund industry association is responsible for the registration and filing of private equity fund managers and performs the industry self-discipline function. The self-discipline management of private equity funds takes information disclosure as the core and honesty and trustworthiness as the basis. The private fund manager promises to bear legal responsibility for the authenticity, accuracy and completeness of the information provided. The fund industry association does not conduct substantive pre-examination of the registration and filing information provided by private fund managers. Investors should carefully judge and identify risks when investing in private equity funds.
Second, the scope of private investment fund manager registration and fund filing?
A: Managers of private equity investment funds, private equity investment funds and venture capital funds. The registration procedures for private investment fund managers shall be handled with the fund industry association, and the managed private equity funds shall be handled with the fund filing procedures.
3. How long will it take to pass the registration information after submission?
A: The association will start the registration work immediately after receiving all the application materials and written commitment letters from the organization. The association can verify the registration application materials provided by private fund managers by interviewing senior managers, on-site inspection, consulting China Securities Regulatory Commission and its dispatched offices and relevant professional associations.
In addition to the suspension of registration, if the registration application materials provided by the private equity fund manager are complete, the Association will complete the registration procedures for the private equity fund manager by publicizing the basic information of the private equity fund manager through the website within 20 working days from the date of receiving all the registration materials, and at the same time go through the membership procedures accordingly.
If the filing materials of private equity funds are complete, the Association will publicize the basic information of private equity funds through the website within 20 working days from the date of receiving all the filing materials, and complete the filing procedures of private equity funds.
4. Is the registration information of private equity funds made public?
A: The association will publicize the basic information of private equity fund managers, private equity funds and private equity fund employees and accept social supervision. All public information is provided by the registered private equity fund manager, who promises to bear legal responsibility for the authenticity, accuracy and completeness of the information provided.
(1) fund manager's announcement. Including the fund manager's name, registered address, establishment time, registration time, registration number, enterprise nature, registered capital/subscribed capital, name and work experience of legal representative/executive partner (appointed representative), names of other senior executives, number of employees with professional qualifications, institutional website and other basic information.
(2) Publicity of private equity funds. Including the name of private equity fund, fund code, currency, establishment time, filing time, fund type, operation status, fund manager name, management type, custodian name, main investment fields and other basic information.
(3) Staff publicity. Including the name of the employee, qualification certificate number, registration change record and other basic information.
Verb (abbreviation of verb) Qualification criteria and registration procedures for private equity funds?
A: Private fund managers should confirm in advance that the registration information of employees submitted by institutions meets the conditions for identification as stipulated in the Measures, and bear the responsibility for verification. The association will further check. If there are false records, misleading statements or major omissions in the registration information, the association will take corresponding self-discipline measures against the private fund manager. Those suspected of violating laws and regulations will be transferred to the China Securities Regulatory Commission for handling.
6. Are foreign private equity fund management institutions included in the scope of registration and filing?
A: A private equity fund management institution registered and established in China shall go through the registration procedures for private equity fund managers with the fund industry association. Overseas registered private equity fund management institutions are not included in the scope of registration for the time being.
7. Can a natural person register as a private fund manager?
A: According to the Securities Investment Fund Law, fund managers are legally established companies or partnerships. A natural person cannot be registered as a private fund manager.
8. Can an institution with insufficient paid-in capital register as a private fund manager?
A: Private equity fund management institutions should have appropriate capital to support their basic operations.
9. Can private equity funds promise guaranteed income?
A: Private equity funds shall not violate the rules and promise to protect the principal and income. The fund industry association is formulating the relevant business norms of private equity funds.
X. Do private fund management institutions have to go through the registration procedures? What are the consequences of not registering?
A: According to the Securities Investment Fund Law and the Measures for the Registration of Private Fund Managers and Fund Filing (Trial), private fund management institutions should go through the registration procedures. Otherwise, it shall not engage in private investment fund management business activities. The Fund Industry Association and the China Securities Regulatory Commission have established a mechanism for information sharing and regular notification of private equity fund registration and filing. The established private fund manager shall complete the registration procedures with the fund industry association before the end of April in accordance with the provisions of the Measures for the Registration of Private Fund Managers and Fund Filing (Trial). For registered private fund managers, fund industry associations should provide various services; For unregistered private fund managers, China Securities Regulatory Commission will take corresponding regulatory measures.