Research On The Compliance Regulation Of Private Equity Fund In China

Private equity fund,commonly known as PE fund,usually refers to the fund that invests in non-listed companies.The investment of private equity fund is an important direct financing way for enterprises,and the rapid development of economy makes our country become an important market of international private equity fund.In recent years,private equity fund of China has developed rapidly,but private equity investment in China is still in the primary stage,the supporting legal system is not yet sound,also the whole industry compliance order is chaos.To solve the problem of the current private equity fund in various compliance,in order to bring private equity fund into a healthy development path,and regulate the operation of private equity firms,the government must strengthen compliance supervision and system innovation,create a more perfect legal environment for private equity fund.From the foreign major developed countries and the Hong Kong region of China about the regulation of private equity fund,due to the developed economy,the private equity fund of American starts early and has developed for a long time,has a fairly mature institutional system,its compliance regulation system is imperfect,it adopts a mode of "administrative supervision" which adjusts loosely in time.Under this kind of regulatory system,its supervision mainly focuses on investor qualification,sales behavior and information disclosure.Unlike the United States,which is dominated by administrative regulation,the UK has a tradition of emphasizing self-regulation in financial supervision.It adopts the "self-regulatory supervision" mode of self-regulation and information disclosure.In terms of the supervision of private equity fund,the UK's regulatory model is also dominated by industry self-discipline and legal supervision,which is mainly reflected in the two aspects of supervision body and supervision law.Similar to the UK,the Hong Kong region of China mainly adopts the more relaxed "licensing regulation" mode in the regulation of private equity fund.Compared with other countries,Japan is tougher on financial regulation,Japan has adopted a more stringent "administrative regulation" model for the regulation of private equity fund and has more government control.Although the private equity fund of our country has established a lot of compliance supervision system,but it can be seen that the current compliance problems of private equity fund in China is still very serious,the first is the lag and confusion of domestic legislation,the second is that there is still a lot of slack in pushing for higher legal regulation of private equity fund,the third is the lack ofdetailed government supervision.Therefore,the private industry is still very urgent to strengthen compliance supervision,compared to developed countries such as Europe and the United States,there are still many gaps in compliance supervision and construction of private equity fund in China,It is urgent to supplement that short plate.Through reference to the Hong Kong region of our country and the United States,Britain,Japan and other foreign developed countries private equity fund compliance legal supervision system,and combined with the present development of private equity fund in China as well as the background for a new era of the rule of law,Some Suggestions are given from the three aspects of improving the legal system of compliance supervision,refining the functions of government compliance supervision and strengthening the internal compliance construction of enterprises,it provides some ideas for the regulation law supervision of private equity fund in China.Improve the compliance of the private equity fund namely,first of all,we need to establish a sound legal compliance system based on the clear supervision principle,and take the government compliance supervision as the main body,and corporate compliance construction as the auxiliary to carry out effective cooperation,to provide effective legal guarantee for the healthy development of private equity fund,and fully guarantee the legitimate interests of investors.