Specific Rules For Private Placement Of New Three Boards Are Being Investigated.

In regard to the suspension of the private sector's listing on the new third board, Chen Ziqiang said that at the end of December last year, all sectors of the community raised questions about the financing of the new three board listed private institutions, such as the large amount of financing, the number of funds raised, and the irregular use of fund-raising.

Chen Ziqiang pointed out that the SFC went to various places to conduct research on the listing of private equity institutions, and studied the issues of listing, valuing, disclosing, and conflict of interest among private equity organizations.

Specific policy suggestions will be released as soon as they are clear.

At the same time,

It also reveals the views on the split share pfer of private equity funds.

He pointed out that the SFC is concerned about the existence of such acts in the market. It has investigated and dealt with an illegal institution in Shanghai that violating the right to split the proceeds of private equity products, and urges the organization to carry out rectification. The SFC will continue to strengthen routine supervision, strengthen monitoring and control, and intensify efforts to investigate and deal with illegal private product splitting and pferring businesses.

In support of venture capital development, Chen Ziqiang also said that the SFC will promote relevant promotion policies.

First, we should communicate with the finance and taxation departments to promote a fair tax environment for all kinds of private equity funds, and on this basis we should refine the tax preferential policies for refining venture capital funds.

Two, under the premise of controllable risks, we should further promote the proportion of private equity funds invested by insurance funds and the national social security fund, and encourage long-term capital investment venture capital funds such as enterprise annuity and various public funds.

Three is to encourage venture capital institutions to develop innovative financial products meet the needs of innovation, research and issue of bonds and bonds combined products, improve

The ability to raise funds.

In addition, Hong Lei, President of the China Securities Investment Fund Industry Association, said that the fund association will optimize the qualification examination arrangement for the fund, increase the examination subjects adapted to private equity investment funds and venture capital funds. It is expected that the examination outline will be issued in June this year, and the corresponding test subjects will be added in September, and the examination materials will be published at the end of the year.

Besides,

Efforts are being made to study the scope of the qualification of executives of private equity funds and venture capital funds, and specific measures are being worked out.

As for the private placement fund management institution that did not develop before May 1st, Hong Lei said that it had been registered for 12 months before February 5th of this year, and there were no 2000 private fund managers who had filed a legal submission before May 1st, nor did they apply for the first private fund product. The Association will cancel it as required.

Chen Ziqiang also said that the SFC will strengthen the supervision of private equity funds from seven aspects. First, the Provisional Regulations on the management of private equity funds should be promoted as soon as possible, laying the legal foundation for the regulation of private equity funds and other non securities funds, and increasing the supervision means and measures for various types of private equity funds, so as to enhance the penalties for illegal behaviors.

Two, it is necessary to revise and release the Interim Measures for supervision and management of private investment funds as soon as possible, clarify the regulatory boundaries, refine the regulatory requirements for managers and their employees, and strengthen the supervision of other service institutions such as trusteeship institutions, sales organizations, etc.

The three is to formulate and introduce the index system of private fund information statistics and risk monitoring, integrate the unit supervision resources in the system, and realize the omni directional monitoring of the risk of private equity funds.

The four is to strengthen the supervision of private equity funds and carry out special inspections of 308 private equity funds, with unified standards and strict controls.

Five is to guide the fund industry association to improve relevant self-discipline rules, constantly improve the registration and record of private equity funds, and enhance the integrity of the industry.

The six is to cooperate with local governments to carry out risk investigation of illegal fund-raising in private equity funds, and instruct agencies, fund associations and local governments to establish information sharing, risk notification and important matters consultation mechanism.

Seven, we must strictly enforce investor's appropriateness management requirements, strengthen investor education and cultivate investment culture with private characteristics.