If there is any violation, it will lead to the punishment of the China Foundation and affect the legal representative qualification in the future. In the worst case, it will bear civil, administrative and criminal responsibilities together with legal persons.

The China Foundation pointed out in "Answers to Questions Related to Registration and Filing of Private Equity Funds (XII)" that the Association will record it in the personal integrity file, and take disciplinary measures such as condemnation in the industry, blacklisting and disqualification of its fund, depending on the seriousness of the case.

2. Can no longer serve as the legal representative.

Bear civil liability for compensation.

Be subject to administrative sanctions and fines.

Constitute a criminal offence.