Legal basis: Article 38 of the Interim Measures for the Supervision and Administration of Private Investment Funds. Private fund managers, private fund custodians, private fund sales organizations and other private service institutions and their employees who violate the provisions of Articles 7, 8, 11, 14 to 17 and 24 to 26 of these Measures and commit any of the acts listed in Items 1 to 7 and 9 of Article 23 of these Measures shall be ordered to make corrections, given a warning and fined 30,000 yuan. Give a warning to the directly responsible person in charge and other directly responsible personnel and impose a fine of not more than 30,000 yuan; Whoever commits the act in Item 8 of Article 23 of these Measures shall be punished in accordance with the relevant provisions of the Securities Law of People's Republic of China (PRC) and the Regulations on the Administration of Futures Trading; If the case constitutes a crime, it shall be handed over to judicial organs for criminal responsibility.