Study On Private Placement Fund And Its Legal System In China

Private placement fund refer to the kind of investment fund that is collected from certain investors by means of non-public method. The private placement fund, one of the collection forms, of securities investment fund, is a term counter to the public placement fund whose legal relationship is trust. Comparing with public funds, private placement funds have many advantages, such as non-public offering, flexible mode of operation, low-establish cost. The development of private placement funds has positive significance on increasing investment channels, meeting the needs of different investors, reducing systemic risk, promoting competition in the fund industry, promoting the development of the fund industry.Private placement fund is developing very rapidly and growing maturity in major developed countries. Though private placement fund in China is not as mature as other developed countries, it has become an important element in scale through several years of development. However, there is no systematic legislation concerning the standardization and development of private fund in China so far. Therefore, in the full development of foreign private placement fund on the basis of experience, this paper studies on the development of China's private placement fund background conditions. It is based on China's national conditions, discussing on how to establish China's own private placement fund legal regulatory system. In order to provide theoretical and legal reference for the development of private placement fund.Apart from the introduction and Conclusion, this paper is divided into four parts: Chapter 1 is about the summarization of private placement fund. Chapter 2 is about the development status and problems of private placement fund in China. Chapter 3 is about law of private placement in developed countries and regions. On the basis of introducing the current legal environment of China's private placement fund, Chapter 4 sets forth the specific framework suggestions of establishing legal supervising system of private placement fund in our country.