I. Examination and approval of the application for raising funds
The main procedures and contents of fund raising application approval include:
First, the integrity of the application materials for raising funds is reviewed.
Secondly, the application materials for raising funds shall be examined for the qualification of compliant securities.
Third, according to the actual situation of the fund to be raised, organize an expert review meeting for review.
Fourth, the China Securities Regulatory Commission makes a decision on approval or disapproval.
Finally, handle the fund filing.
Second, the steps of raising funds
Generally, it is divided into four steps: application, approval, sales and fund contract coming into effect. It turned out to be five steps (filing and announcement).
(1) Application for raising funds
The main documents to be submitted when applying for raising funds include: fund application report, draft fund contract, draft fund custody agreement, draft prospectus, etc.
(2) Approve the application for raising funds.
The state securities regulatory body shall make a decision of approval or disapproval within 6 months from the date of accepting the application for fund raising.
(3) Sales of fund shares
The fund manager shall sell the fund shares within 6 months from the date of receiving the approval documents. The raising period of the Fund shall be calculated from the date of sale of fund shares, and the raising period shall not exceed 3 months.
(4) The fund contract takes effect.
Upon the expiration of the fund raising period, the total share of closed-end funds has reached more than 80% of the approved scale; There are more than 200 fund share holders; An open-end fund shall meet the requirements of raising no less than 200 million shares, raising no less than 200 million yuan and holding no less than 200 fund shares.
The fund manager shall employ a statutory capital verification institution to conduct capital verification within 10 days from the expiration of the raising period. Within 65,438+00 days from the date of receiving the capital verification report, submit the filing application and capital verification report to the the State Council securities regulatory authority, and handle the fund filing procedures.
China Securities Regulatory Commission shall give written confirmation within 3 working days from the date of receiving the capital verification report and filing application; From the date of confirmation, the fund contract will take effect after the filing procedures are completed. The day after the Fund receives the confirmation document, it will announce the effectiveness of the fund contract.
If the fund raising fails, the fund manager should bear the responsibility.