According to the relevant regulations, all private fund managers should go through the registration procedures and register with the fund industry association. For unregistered fund managers, China Securities Regulatory Commission and fund industry associations will take corresponding regulatory measures (no private investment fund management activities).

So what is the necessity of private fund manager registration?

1. According to the provisions of the Securities Investment Fund Law and the Measures for the Registration of Private Investment Fund Managers and Fund Filing (Trial), the private equity fund management institution shall go through the registration procedures. Otherwise, it shall not engage in private investment fund management business activities.

2. According to the Notice on Issues Related to Account Opening and Settlement of Private Equity Funds, private equity funds applying for opening private equity securities accounts need to provide relevant supporting documents issued by fund industry associations, otherwise they cannot open accounts, that is, private equity investment funds cannot conduct investment activities in the securities market.

3. The CSRC issued a notice to clarify that private equity funds may not engage in business within the securities system without obtaining the qualification for filing, including: private equity funds may not participate in private placement, mergers and acquisitions of listed companies without filing; Private equity investment funds may not participate in the New Third Board business without filing.

I hope I can help you. Thank you.