The China Securities Regulatory Commission is seeking public comments on the "Measures for the Supervision and Administration of Fundraising by Private Equity Investment Funds (Draft for Public Opinion)".

On September 4, the China Securities Regulatory Commission (CSRC) publicly solicited opinions on the "Administrative Measures for the Supervision and Management of Private Investment Fund Raising (Draft for Comments)." The "Measures" consist of seven chapters and forty-five articles, with the main content including: First, clarifying the fundamental principle of "seller responsibility, buyer self-reliance," stipulating the method of fundraising, and detailing prohibitive conduct regulations. Second, improving the identification criteria for qualified investors regarding asset scale, income levels, and investment experience, and strengthening the requirements for penetrating supervision. Third, clarifying the fundraising process, fundraising documents, and regulatory requirements, solidifying the suitability management obligations and risk disclosure responsibilities of private fund managers and private fund sales institutions. Fourth, enhancing the mechanisms to ensure the safety of raised funds, specifying the requirements for dedicated fundraising settlement accounts and the supervisory agencies overseeing fundraising settlement funds, and reinforcing the internal control system requirements for private fund managers. Fifth, clarifying supervisory management and legal responsibilities. The "Measures" are important rules for strengthening the full-process supervision of private investment funds. Their formulation marks a significant advancement in establishing and perfecting the administrative regulatory framework for private investment funds, further solidifying the foundation for comprehensive regulatory systems. The CSRC will carefully study the feedback from all parties, and will amend and improve the draft before issuing it according to procedures. This article is compiled from the China Securities Regulatory Commission, edited by GMTEight: Chen Wenfang.