正文
Note: Once the private fund manager is publicized as an abnormal institution, even if the rectification is completed, the normal organization publicity status will be restored after at least 6 months.
2. From November 1, 2018, if the registered private equity fund manager fails to fulfill the above-mentioned private fund information disclosure backup obligations as required, the Association will suspend the application of the private equity fund product filing application of the institution in the private equity fund manager to complete the corresponding before the rectification request.
Therefore, the Notice emphasized the impact of the regular disclosure requirements of private fund managers and the failure to fulfill their disclosure obligations in a timely manner once again, which shows that the Association attaches importance to the information disclosure system. Specifically embodied in:
1. Requirements for private fund information disclosure time nodes;
2. Requirements for the risk disclosure requirements during the private fund raising period;
At present, the special risk disclosure includes: the risk involved in the inconsistency between the fund contract and the association contract; the risk of the private fund untrusted; the risk involved in the private fund's entrustment; the risk involved in the private fund outsourcing; the risk involved in the private fund's investment adviser; the private equity fund did not carry out the risks involved in the filing formalities of the association;.
General risk disclosure includes: risk of financial loss; risk of fund operation; liquidity risk; risk of failure to raise; risk of investment target; tax risk;
In addition, it should also focus on the disclosure of the special risks involved in the liquidity of private equity funds, related transactions, single investment targets, product structure, and underlying targets.
After refinement and supplementation, a relatively complete private fund risk disclosure system has been formed.
3. The impact of private fund information disclosure obligations on private fund managers has not been completed in time;
If the private fund manager fails to fulfill the obligation of periodic disclosure and disclosure of major matters, the investor may complain or report to the association. The association may require it to make corrections within a time limit. If the private fund manager fails to make corrections within the time limit, the association may regard the circumstances as Private fund managers and principals take disciplinary actions such as reminders, written warnings, requests for compulsory training, industry condemnation, blacklisting, etc.
