The investment of private equity fund property includes buying and selling stocks, equity, bonds, futures, options, fund shares and other investment targets agreed in investment contracts.
These Measures shall apply to the registration, fund raising and investment operation of companies or partnerships established for the purpose of investing in private equity funds and assets managed by fund managers or general partners.
These Measures shall apply to securities companies, fund management companies, futures companies and their subsidiaries engaged in private equity fund business. Where other laws and regulations and the relevant provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) provide otherwise for the above-mentioned institutions to engage in private equity fund business, such provisions shall apply. Article 3 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 national and social public interests. Article 4 Private equity fund managers and institutions engaged in private equity fund custody business (hereinafter referred to as private equity fund custodians) manage and use private equity fund property, and institutions engaged in private equity fund sales business (hereinafter referred to as private equity fund sales institutions) and other private equity fund service institutions shall fulfill their duties and fulfill their obligations of honesty, credibility, prudence and diligence.
Private equity fund practitioners shall abide by laws and administrative regulations, and abide by professional ethics and codes of conduct. Article 5 The China Securities Regulatory Commission and its dispatched offices shall supervise and manage the business activities of private equity funds in accordance with the Securities Investment Fund Law, these Measures and other relevant provisions of the China Securities Regulatory Commission.
There is no administrative examination and approval for the establishment of private fund management institutions and the issuance of private funds, and various issuers are allowed to issue private funds to investors who do not exceed the cumulative number stipulated by law on the basis of legal compliance. Establish and improve the supervision system for the issuance of private equity funds, effectively strengthen the supervision after the event, and severely crack down on all kinds of illegal fund-raising activities in the name of private equity funds according to law.
Establish a risk control and self-discipline management system to promote operating institutions to standardize private equity fund business, as well as a unified monitoring system for various private equity funds. Article 6 China Asset Management Association (hereinafter referred to as the Fund Industry Association) shall, in accordance with the Securities Investment Fund Law, these Measures, other relevant provisions of the China Securities Regulatory Commission and the self-discipline rules of the Fund Industry Association, carry out industry self-discipline, coordinate industry relations, provide industry services and promote industry development. Chapter II Registration and Filing Article 7 Managers of various private equity funds shall apply to the fund industry association for registration in accordance with the provisions of the fund industry association, and submit the following basic materials:
(a) the original and photocopy of the 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.
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. Article 8 After all kinds of private equity funds are raised, the private equity 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:
(a) the main investment direction and the types of funds indicated according to the main investment direction;
(2) Fund contract, articles of association 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 and business license;
(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, publish the list of private equity funds and their basic information through the website and complete the filing procedures of private equity funds. Article 9 The registration of private fund managers and private funds by fund industry associations does not constitute the recognition of the investment ability and continuous compliance of private fund managers; Not as a guarantee for the safety of fund property. Article 10 If a private fund manager is dissolved, revoked or declared bankrupt according to law, his 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. Chapter III Qualified Investors Article 11 Private equity funds shall be raised from qualified investors, and the cumulative number of investors in a single private equity fund shall not exceed a certain number as stipulated by the Securities Investment Fund Law, the Company Law, the Partnership Enterprise Law and other laws.
Where an investor transfers a fund share, the transferee shall be a qualified investor, and the number of investors after the transfer of the fund share shall conform to the provisions of the preceding paragraph.