Item A, the senior managers who intend to apply for registration of private fund managers have a record of major dishonesty in the last three years, and the association will not apply for registration; Item C, for the fund manager who is publicized as an abnormal institution, it will take at least 6 months after the rectification is completed to restore the normal institution publicity status; In item D, if the fund manager fails to fulfill the quarterly, annual and major information reporting and updating obligations on time, the application for filing private placement products will be suspended.