The newly registered private placement manager shall take the initiative to contact the securities regulatory bureau of the place of registration within 10 working days after the registration is completed.

Second, the office space requirements

If the industrial and commercial registration and the actual business place are not in the same administrative region, the rationality of separation shall be fully explained.

Third, the requirements of senior managers.

■ Securities private placement managers and senior executives shall obtain the qualification of fund practice; Non-securities private placement managers should have at least two senior executives who have obtained the qualification of fund practice.

■ All kinds of private equity fund managers, compliance/risk control leaders are not allowed to engage in investment business.

■ When replacing senior management personnel, the following requirements shall be observed:

1. Do not work part-time in an unrelated private placement institution;

2. Not working part-time in an institution that conflicts with private equity business;

3. In addition to the legal representative, other senior managers of private equity fund managers shall not hold part-time jobs in principle; If you have a part-time job, you should provide relevant certification materials on the rationality of the part-time job (including but not limited to the rationality and competence of the part-time job, how to treat customers fairly, whether it violates the non-competition regulations, etc.). ), and the number of part-time executives is not higher than 65,438+0/2 of the total number of senior executives of the applicant institution;

4. The part-time executives of private fund managers should allocate their work energy reasonably, and the association will focus on the part-time executive positions of many institutions;

5. The association will focus on the reasons for the change and the integrity of the private placement executives who have changed their employment institutions more than twice in one year;

6. The senior managers of private fund managers shall sign labor contracts with the employing agencies. Private equity fund managers shall upload the labor contract and social security certificate of the senior executives involved when registering and submitting the application for major changes of senior executives.

Fourth, the number of employees.

The total number of employees of the applicant institution shall not be less than 5, and the general employees of the applicant institution shall not work part-time.

Verb (abbreviation for verb) conflicts with business.

For applicants who are engaged in private lending, private financing, financial leasing, fund-raising business, micro-financing, micro-lending, P2P/P2B, crowdfunding, factoring, guarantee, real estate development, trading platform, etc., due to the conflict between the above businesses and private equity funds, in order to prevent risks, the Association will not register institutions engaged in conflict business.

Sixth, it is strictly forbidden to hold shares.

Investors shall contribute their capital in monetary property. The investor shall ensure that the source of funds is true and legal and is not dominated by any third party. The applicant institution shall ensure that the ownership structure is clear and there is no situation of holding shares on behalf of the applicant. An investor shall have the capital contribution ability matching the amount of capital contribution subscribed by him, and provide corresponding certification materials.

Seven. Equity requirement

■ The applicant institution shall ensure that the ownership structure is concise and clear, and there are no excessive levels of ownership structure, revolving capital contribution and cross-shareholding. The association will intensify the verification of equity penetration, focusing on its legal compliance.

■ If the equity changes within one year before the application for registration, the applicant shall explain in detail the reasons for the change. If the applicant conducts special equity design in order to circumvent the relevant regulations of investors, the association will carefully check it according to the principle that substance is more important than form.

■ The investors and actual controllers of the applicant institution shall not be asset management products.

Eight. All parties concerned

■ If a subsidiary, branch or related party of the applicant institution has a private fund manager, it shall submit an application for registration of the private fund manager of the applicant institution after the private fund manager of the subsidiary, branch or related party actually conducts business and completes the filing of the first private fund.

■ If the subsidiaries, branches or related parties of the applicant institution have engaged in private equity fund business but are not registered as private equity fund managers, the applicant institution shall register the private equity fund managers of its subsidiaries, branches or related parties in advance.

■ If there is a new applicant institution under the same actual controller, the largest shareholder and actual controller of the applicant institution shall make a written commitment to continue to hold the equity or actual control right of the applicant institution for not less than three years after completing the registration of private fund managers.

Nine. Pause processing

Under any of the following two or more circumstances, the Association will suspend the application for registration of private fund managers of such institutions for 6 months:

(a) the name of the applicant institution does not highlight the main business of private equity fund management, and it is the same as or similar to the name of a well-known institution, with the words "group" and "financial control", misleading investors;

(2) The office of the applicant institution is unstable or not independent;

(3) The applicant's exhibition plan is not feasible;

(four) the applicant does not meet the requirements of professional operation and deviates from the main business of private equity funds;

(five) the applicant has a large amount of outstanding liabilities, or the liabilities exceed 50% of its net assets;

(six) the applicant's shareholding or shareholding structure is not clear;

(7) The actual control relationship of the applicant is unstable;

(8) The applicant circumvents the requirements of related parties or actual controllers through structural arrangements;

(nine) the applicant's employees and senior management personnel are related, or their professional ability is insufficient;

(ten) the applicant fails to submit the application materials for registration within 6 months after the feedback from the Association;

(eleven) other circumstances identified by China Securities Regulatory Commission and China Asset Management Association.

Not registered

If an institution applying for the registration of private fund managers is under any of the following circumstances, the Association will not register it, and its senior managers will not be accepted as the senior managers of private fund managers, investors or actual controllers within one year from the date when the institution fails to register:

(a) the applicant violates the relevant provisions of the People's Republic of China (PRC) Securities Investment Fund Law and the Interim Measures for the Supervision and Administration of Private Investment Funds on fund raising, issues private equity funds in violation of regulations before applying for registration, and publicly promotes and raises funds to unqualified investors;

(2) The applicant provides false registration information or materials, or the applicant colludes with third-party intermediaries such as law firms and accounting firms; The registration information or materials provided have misleading statements or major omissions;

(3) The main investors of the applicant institution and the applicant institution have engaged in or are still engaged in private lending, private financing, financial leasing, fund-raising business, microfinance, microfinance, P2P/P2B, crowdfunding, factoring, guarantee, real estate development, trading platform and other businesses that conflict with the private equity fund business;

(4) The applicant institution is listed in the list of enterprises that are seriously illegal and untrustworthy in the national enterprise credit information publicity system;

(5) The senior management of the applicant institution has a serious record of dishonesty in the last three years, or has been banned from the market by the China Securities Regulatory Commission in the last three years;

(six) other circumstances stipulated by the China Securities Regulatory Commission and the China Asset Management Association.

XI. Matters needing special attention after registration.

■ If the newly registered private equity fund manager fails to file the first private equity fund product within 6 months from the date of completing the registration procedures, the Association will cancel the registration of the private equity fund manager.

■ Since February 5, 20 16, the Association will not accept the filing application of newly registered private equity fund managers as the first private equity fund product it manages, and will not accept the filing application of registered private equity fund managers of unregistered private equity funds as the first private equity fund product it manages.

XII. Major Changes

■ If the private placement manager puts forward an application for major event change that needs to submit a legal opinion on major event change, and it fails within 6 months after the first submission or the number of corrections is returned for more than 5 times, the association will suspend the applicant's new product filing until it is passed.

■ If the legal representative/executive partner (appointed representative), major investor and actual controller of the registered private equity fund manager change within 65,438+0 years, the legal opinion of the registered private equity fund manager after the change shall be re-submitted. For such major changes, the Association will act as a new registration agency for verification, and strengthen the verification of the reasons for the changes.

■ After the former senior manager of the private equity fund manager leaves his post, the private equity fund manager shall complete the appointment of a senior manager with professional ability suitable for the post requirements within 3 months.