Private fund managers, private fund custodians, private fund sales organizations and other private fund service organizations and their employees are not allowed to engage in private fund business. First, they are prohibited from committing the following acts: First, they occupy or misappropriate the fund property, or hotchpot their inherent property and others to the fund property; Second, it unfairly treats different fund properties or different investors it manages; Third, take advantage of the fund's property or position to seek benefits for people other than investors and transfer benefits; Fourth, dereliction of duty, failure to be diligent and responsible, and engaging in activities that harm the fund property and the interests of investors; Fifth, disclose insider information or other undisclosed information obtained due to the convenience of work, engage in, cooperate with or express or imply that others engage in insider trading activities; Sixth, in order to crowd out competitors, the fund should be sold at a lower level than the cost, and the fund should be sold by lottery, kickback or giving away in kind, insurance and fund shares. Seventh, divulge investors' data and trading information, information of all interested parties and business secrets, and seek illegitimate interests for yourself or others. Eighth, using the advantages of capital, shareholding and information to influence or manipulate the price or volume of securities trading and mislead and interfere with the market; Ninth, accepting bribes or offering bribes to others (gifts, kickbacks, compensation or remuneration, etc.) or engaging in activities that may lead to conflicts of interest; Tenth, other acts prohibited by laws, administrative regulations and regulations of China Securities Regulatory Commission. To sum up, the fund industry association has highlighted the provisions on setting up senior managers, mandatorily requiring key executives to have professional qualifications, the conditions for obtaining and maintaining professional qualifications, and the code of conduct for private equity fund compliance personnel. Accordingly, people who are interested in developing into the private equity industry can better arrange and plan their future careers according to the corresponding laws and regulations.