China Securities Regulatory Commission revises private equity management rules to strengthen risk management of reverse repurchase

category:Finance
 China Securities Regulatory Commission revises private equity management rules to strengthen risk management of reverse repurchase


The second is to optimize the relevant institutional arrangements according to the characteristics of private equity investment fund investment. It mainly includes exempting private equity investment funds from the restriction of all collective asset management plans managed by the same securities and futures business institution, no more than 25% of the assets invested in the same asset; improving the institutional arrangements of installment payment and open participation to meet the needs of private equity investment funds in phases and steps; and The special regulations of the government industrial investment fund should be well connected; space should be reserved for indirect investment in unlisted enterprises through special purpose vehicles; the restriction on the participation proportion of managers own funds should be relaxed to further meet the actual needs of managers follow-up investment.

Third, we should appropriately relax the investment restrictions on futures business institutions. The futures companies and their subsidiaries which have been classified as class A and AA in the latest two periods are allowed to set up asset management products for non-standard assets such as standard warehouse receipts and OTC derivatives, and select head futures companies for pilot projects, so as to give full play to the professional advantages of futures business institutions, improve service ability and professional level, and meet the risk management needs of entity enterprises. Fourth, compared with the new securities law, the expression of accounting firms with securities related business qualifications in the relevant provisions should be revised to accounting firms conforming to the provisions of the securities law; the requirements of streamlining administration and delegating powers should be implemented, and the filing and reporting matters should be further simplified to solve the problem of multiple submission. The fifth is to extend the transition period of the detailed rules for asset management to the end of 2021 in accordance with the new regulations on asset management. Source: Securities Times editor in charge: Guo Chenqi_ NBJ9931

Third, we should appropriately relax the investment restrictions on futures business institutions. The futures companies and their subsidiaries which have been classified as class A and AA in the latest two periods are allowed to set up asset management products for non-standard assets such as standard warehouse receipts and OTC derivatives, and select head futures companies for pilot projects, so as to give full play to the professional advantages of futures business institutions, improve service ability and professional level, and meet the risk management needs of entity enterprises.

Fourth, compared with the new securities law, the expression of accounting firms with securities related business qualifications in the relevant provisions should be revised to accounting firms conforming to the provisions of the securities law; the requirements of streamlining administration and delegating powers should be implemented, and the filing and reporting matters should be further simplified to solve the problem of multiple submission.

The fifth is to extend the transition period of the detailed rules for asset management to the end of 2021 in accordance with the new regulations on asset management.