If the private placement manager fails to file the first private placement fund product within 6 months after registration, China Fund Industry Association will cancel the registration of the private placement fund manager. As a result, the shell business of private equity funds was born. At present, the main business is the PB business of securities firms.

According to the new regulations on the management of private equity institutions, there are two points worthy of attention: the first batch of clean-up was completed on May 16, and the second batch was completed on August 16. With February 5, 20 15 as the boundary, there are about 2,900 companies that have obtained the qualification certification of private placement managers before and have not issued their first products, and will be cancelled on May 6, 2065,438. If the first product is not released after obtaining the qualification certification of private placement manager, the registration will be cancelled on August 20 16/day, about 1 4000.