Legal basis: Article 4 of the Interim Measures for the Supervision and Administration of Private Equity Funds. Private fund managers and institutions engaged in private fund custody business (hereinafter referred to as private fund custodians), institutions engaged in private fund sales business (hereinafter referred to as private fund sales institutions) and other private service institutions shall fulfill their duties and fulfill their obligations of honesty, credibility, prudence and diligence.
Private equity fund practitioners shall abide by laws and administrative regulations, and abide by professional ethics and codes of conduct.
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