1. Private equity fund business shall follow the principles of voluntariness, fairness, honesty and credibility, safeguard the legitimate rights and interests of investors, and shall not harm the interests of the state and the public.
2. Private fund practitioners shall abide by laws and administrative regulations, and abide by professional ethics and codes of conduct.
3, all kinds of private fund managers shall, according to the provisions of the fund industry association, apply for registration to the fund industry association, and submit the following basic information:
(1) Original and photocopy of industrial and commercial registration and business license;
(2) Articles of association or partnership agreement;
(3) List of major shareholders or partners;
(4) Basic information of senior managers;
(5) Other information stipulated by the fund industry association.
A natural person serving as a private equity fund manager shall submit the following basic information:
(1) copy of identity certificate;
(2) personal resume;
(3) Credit records of the last three years;
(4) Other information stipulated by the fund industry association.
The fund industry association shall publish the list of private fund managers and their basic information through the website within 20 working days after the registration materials of private fund managers are complete, and complete the registration procedures of private fund managers.
4. After the private fund raising, the private fund manager shall go through the fund filing procedures in accordance with the provisions of the fund industry association, and submit the following basic information:
(1) major investment directions and fund categories indicated by major investment directions;
(2) Fund contract, articles of association of the fund company or partnership agreement. In the process of fund raising, if a fund prospectus is provided to investors, it shall be submitted. Private equity funds established in the form of companies, partnerships and other enterprises shall also submit the original and photocopy of industrial and commercial registration materials and business licenses;
(3) If entrusted management is adopted, an entrusted management agreement shall be submitted. Where a trust institution is entrusted to trust the fund property, a trust agreement shall also be submitted;
(4) Other information stipulated by the fund industry association.
The fund industry association shall, within 20 working days after the filing materials of private equity funds are complete, announce the list of private equity funds and their basic information through the website and complete the filing procedures of private equity funds.
5. If the private fund manager is dissolved, revoked or declared bankrupt according to law, its legal representative or general partner shall report to the fund industry association within 20 working days, and the fund industry association shall cancel the registration of the fund manager in time and make an announcement through the website.
6. Private equity funds shall be raised from qualified investors, and the cumulative number of investors in a single private equity fund shall not exceed the number stipulated by law. And the investor transfers the fund share, the transferee shall be a qualified investor, and the number of investors after the transfer of the fund share shall comply with the provisions of this article.
7. Qualified investors of private equity funds refer to the units and individuals that have the corresponding risk identification ability and risk-taking ability, and the investment amount of a single private equity fund is not less than 6,543,800 yuan, and meet the following relevant standards:
(1) Units with net assets of not less than100000 yuan;
(2) Personal financial assets are not less than 3 million yuan or the average annual income of individuals in the last three years is not less than 500,000 yuan.
8. Private fund managers need to screen qualified investors. The following investors are regarded as qualified investors:
(1) Social security funds, enterprise annuities and charitable funds;
(two) the investment plan established according to law and supervised by the financial supervision and administration institution of the State Council;
(3) Private equity fund managers and their employees who invest in the managed private equity funds;
(4) Other investors as stipulated by the China Securities Regulatory Commission.
9. Private fund managers and private fund sales institutions 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, internet, lectures, reports, analysis meetings, posting notices, distributing leaflets, sending short messages, WeChat, blogs, emails, etc.
10. Private equity fund managers and private equity fund sales organizations shall not promise investors that the investment principal will not be lost or promise the minimum income.
1 1. Where a private equity fund manager sells private equity funds by himself, it shall evaluate the risk identification ability and risk-taking ability of investors through questionnaires, require investors to make a written commitment that meets the standards of qualified investors, and make a risk disclosure statement, which shall be signed by investors for confirmation.
12. When a private equity fund manager sells a private equity fund by himself or entrusts a sales organization to sell a private equity fund, he shall conduct a risk rating on the private equity fund by himself or entrusts a third party organization and explain it to qualified investors.
13. Private fund managers who manage different private equity funds should establish independent investment decision-making processes and firewall systems to prevent conflicts of interest.
14. Private equity service institutions such as private equity fund managers, private equity fund custodians and private equity fund sales organizations and their employees engaged in private equity fund business shall not commit the following acts:
(1) misappropriate its inherent property or other people's property to engage in investment activities of fund property;
(two) unfair treatment of different fund assets under its management.
(3) Taking advantage of the fund property or position to seek benefits for themselves or others other than investors and transfer benefits;
(4) Embezzling or misappropriating the fund property.
(5) divulging undisclosed information obtained by taking advantage of his position, and using the information to engage in or express or imply others to engage in related trading activities;
(six) to engage in investment activities that damage the fund property and the interests of investors;
(seven) dereliction of duty, do not perform their duties according to the provisions;
(eight) insider trading, price manipulation and other improper trading activities;
(nine) other acts prohibited by laws, administrative regulations and the provisions of the China Securities Regulatory Commission.
15. Private fund managers and private fund custodians shall truthfully disclose important information that may affect the legitimate rights and interests of investors, such as fund investment, assets and liabilities, investment income distribution, fund expenses and performance awards, and possible conflicts of interest, in accordance with the contract, and shall not conceal or provide false information. The information disclosure rules shall be formulated separately by the fund industry association.
16. Private fund managers shall, in accordance with the provisions of fund industry associations, fill in and regularly update relevant information such as the investment operation and leverage of managers and their employees, and ensure the truthfulness, accuracy and completeness of the information filled in. Major events should be reported to the fund industry association within 10 working days. Private equity fund managers shall, within 4 months after the end of each fiscal year, submit to the fund industry association the annual financial report audited by the accounting firm and the basic information on the annual investment and operation of private equity funds managed by them.
17. Private equity fund managers, private equity fund custodians and private equity fund sales organizations shall properly keep records of private equity fund investment decisions, transactions and investor suitability management, and the retention period shall be no less than 10 years from the date of termination of fund liquidation.