私募投资基金监督管理暂行办法英文

Interim Measures for the Supervision and Administration of Privately-Raised Investment Funds is a regulatory document that provides guidelines for the supervision and management of privately-raised investment funds in China. These measures cover various aspects of fund activities, including registration, fund raising, investment, and operation. By examining the key points of the document, combined with big data analysis, we can gain a deeper understanding of the regulations surrounding privately-raised investment funds in China.

1. Definition and Classification of Private Investment Funds

Private investment funds, or private funds for short, are investment funds that raise funds from qualified investors in China through a non-public offering and conduct investment activities under the management of fund managers. This category includes private securities investment funds and private equity investment funds.

2. Fund Establishment and Operation

The establishment of private investment funds in China requires compliance with the regulations specified in the Measures. These regulations cover aspects such as the management of the fund by a fund manager, the custody of the fund by a custodian, and the protection of the interests of fund shareholders. Private fund managers are prohibited from guaranteeing the safety of the invested capital or committing to minimum returns.

3. Registration and Record-Filing

The registration and record-filing of privately-raised investment funds are key processes governed by the Measures. Private fund managers, as well as their sales agencies, are required to complete the necessary procedures with the China Securities Regulatory Commission (CSRC) and its local branches. However, these regulations do not impose administrative approvals on the establishment and issuance of private investment funds.

4. Supervision and Management

The CSRC and its branches are responsible for the supervision and management of private investment fund activities in accordance with the Securities Investment Fund Law, the Measures, and other related regulations. The regulatory authorities conduct regular inspections and assessments to ensure compliance with the established rules and to protect the interests of investors.

5. Qualification of Investors

The Measures outline the qualifications required for individuals to become qualified investors in private investment funds. These qualifications include having the ability to identify and bear investment risks, as well as a minimum investment amount of 1 million yuan. The aim is to ensure that investors possess the necessary knowledge and financial capability to understand and evaluate the risks associated with private fund investments.

In conclusion, the Interim Measures for the Supervision and Administration of Privately-Raised Investment Funds provide a regulatory framework for the operation of privately-raised investment funds in China. The document covers various aspects of fund activities, including registration, fund raising, investment, and operation. It aims to protect the interests of investors and promote the healthy development of the private fund industry in China.