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《私募投资基金募集行为管理办法》发布

《私募投资基金募集行为管理办法》发布

 

Administrative Measures for Raising of Private Investment Funds Issued

 
 
 
近日,中国基金业协会发布《私募投资基金募集行为管理办法》(《办法》),自2016年7月15日起施行。


 
 
 
《办法》从私募基金募集环节的募集主体、募集程序、账户监督、信息披露、合格投资者确认、风险揭示、冷静期、回访确认、募集机构和人员法律责任等方面,首次系统地构建了一整套专业、具有操作性的行业标准和业务规范。同时, 《办法》明确了三个重要问题,一是明确了私募基金两类募集机构主体,即已在中国基金业协会登记的私募基金管理人自行募集其设立的私募基金,以及在中国证监会取得基金销售业务资格并成为中国基金业协会会员的基金销售机构受托募集私募基金;二是明确了募集机构承担合格投资者的甄别和认定责任;三是引入资金账户监督机构,明确募集机构应当与监督机构签订监督协议,对募集专用账户进行监督,保证资金不被募集机构挪用,并确保资金原路返还。
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recently, the Asset Management Association of China ("AMAC") has issued the Administrative Measures for the Raising of Private Investment Funds (the "Measures"), with effect as of July 15, 2016.

The Measures first set up a complete set of industry standards and business rules that are professional and operable in a systematical manner, in respect of the fund-raising parties, raising procedures, account supervision, information disclosure, determination of qualified investors, risk disclosure, cooling-off period, return visits and confirmation, and legal liability of the fund-raising institutions and their employees involved in the process of raising private funds. Moreover, the Measures specify three key issues: 1. the two types of institutions raising private funds, namely, private fund managers registered at the AMAC that raise private funds established on their own, and fund sale institutions obtaining the qualifications to engage in fund sales from the China Securities Regulatory Commission and being a member of the AMAC that are entrusted to raise private funds; 2. assumption of the responsibility for examining and determining qualified investors by fund-raising institutions; and 3. introduction of institutions responsible for capital account supervision. The Measures also provide that fund-raising institutions shall sign a supervision agreement with supervision institutions, so as to supervise the special accounts for fund raising, and ensure that the funds will not be misappropriated by fund-raising institutions and that the funds will be returned along the same route.