The Measures for the Registration of Private Investment Fund Managers and Fund Filing (Trial) is formulated by China Asset Management Association and belongs to social organizations and industry self-regulatory organizations. Although it is not an administrative organ, it belongs to an organization entrusted by the CSRC to exercise industry self-discipline management. According to the second paragraph of Article 19 of the Securities Investment Fund Law, fund managers have the obligation to handle the fund filing procedures. If it is not filed, it is illegal and will be subject to administrative punishment by the securities regulatory authorities.