Research On The Supervising And Management Legal System Of Private Equity Fund In China

With the overall development and steady progress of the Party and State decentralization,the integration of management and the optimization of service have been reformed.Since 2012,China's asset management companies has entered a new era: "no examine" and easier to access.The new regulation idea and policy make private investment fund develop rapidly.In general,after several years of efforts,the supervision of private investment fund in China has established a framework system with law,regulations as the skeleton and self-discipline management as the main body.The supervision and management of the registration and record management with qualified investors and information disclosure as the core is more respect for the autonomy of the parties and the emphasis of the industry association.Self-discipline management.Among them,the administrative supervision does not have administrative approval,adhere to the registration system,the self-regulation of things in advance after full coverage,leniency.The achievement of decentralization is obvious to all,but regulatory reform and innovation are staggering.As far as the current regulation of private investment funds is concerned,there are both excessive supervision and lack of supervision,that is,"the power of is not released,the management is not good",the specific supervision measures are conservative,and some even run counter to the new supervision ideas and policies.First,due to the absence of the upper law,the association has some flaws in the supervision of the private equity fund.Secondly,the regulatory agency,with suspicion and hostility,is under political pressure,ignoring the characteristics of private investment fund and being over correction,which leads to the new value dislocation and system lost in the supervision of private investment fund.Thirdly,administrative power is driven by "financial stability".Finally,there is a new trend of financial repression in private equity fund regulation.