The Study On The Supervision System Of Private Equity Funds

As the new favorite of the capital market, Private equity funds develop rapidly in recent years, having become the most important financing method just next to bank credit and IPO in aspect of scale. China's private equity funds have developed for thirty years since the 20th century 80's. However, the legislative situation of PE in China lagged far behind its development, becoming its further development constraints. In view of this,â… start from China's national conditions and learn from foreign experience in supervision, investigating the supervision of private equity in China.There are three parts in this article, the introduction, the body which includes four parts and the conclusion.The first chapter is the argument about the necessity of the regulation to private equity funds. Firstly, the author expounds the conception of PE and clarifies several related concepts in China's capital market. Secondly, the author introduces the new change of the PE market in west and the development of PE in China. Thirdly, the author talks about the signification of PE's regulation.The second chapter is about the theoretical investigation of the PE regulation. The author analyzes the reason why the regulatory measures change from loose to strict, starting from the regulatory history of the west. The author analyzes the arguments about china's PE supervise from our country's situation. The author makes the conclusion of"appropriate supervision", inspired by the supervisory trend of the west.The third chapter is about the regulatory framework of PE. The author introduces representative regulatory frameworks of three countries, who are USA, Britain and Japan. Then the author analyzes their respective advantages and disadvantages. At last, the author thinks we should construct the regulatory framework of the combination of government regulation and self-regulatory, in the light of the basic principle of"appropriate supervision", from the situation of China's PE. At last, the author introduces the problems which exist in the regulatory system of PE in China.The last chapter discusses how to improve regulation of China's PE. Several questions relevant to PE Funds are mentioned in this chapter, such as the establishing procedure, qualifications and amounts of investors information disclosure, qualifications of managers and so on.