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Chapter IV Interim Measures for the Supervision and Administration of Raising Private Equity Investment Funds
Article 14 Private fund managers and private fund sales organizations shall not raise funds from units and individuals other than qualified investors, and shall not publicize and promote them to unspecified objects through public media such as newspapers, radio, television and the Internet, or lectures, reports, analysis meetings and notices, leaflets, short messages, WeChat, blogs and emails. Fifteenth private fund managers and private fund sales institutions shall not promise investors that the investment principal will not be lost or promise the minimum income. Article 16 Where a private fund manager sells private funds on his own, he shall evaluate the risk identification ability and risk-taking ability of investors by means of questionnaire survey, and the investors shall make a written commitment to meet the requirements of qualified investors; A risk disclosure statement shall be made and signed by the investor for confirmation. Where a private fund manager entrusts a sales organization to sell private funds, the private fund sales organization shall take measures such as evaluation and confirmation as prescribed in the preceding paragraph. The content and format guidelines of investor risk identification ability and tolerance questionnaire and risk disclosure book are formulated by fund industry associations according to the characteristics of different types of private equity funds. Article 17 When a private fund manager sells a private fund by himself or entrusts a sales organization to sell a private fund, he shall conduct a risk rating on the private fund by himself or entrusts a third-party organization, and recommend the private fund to investors with matching risk identification ability and risk-taking ability. Article 18 An investor shall truthfully fill in the questionnaire on risk identification ability and tolerance, truthfully promise assets or income, and be responsible for its authenticity, accuracy and completeness. Those who fill in false information or provide false commitment documents shall bear corresponding responsibilities. Article 19 Investors shall ensure that the sources of investment funds are legal, and shall not illegally collect other people's funds to invest in private equity funds.