Study Of Private Placement Fund's Legal Restriction Of Our Country

Private placement fund is the fund that is collected from a given group in a nonpublic way. Although the scale of private fund is much bigger than public fund in China, there is no relevant law to regulate it at present. On the one hand, private fund is important to the development of China's security market, while on the other hand, various problems have emerged due to lack of relevant laws, regulations and policy supervision. So, the research object of this thesis is private placement fund. The topic of this thesis is to legalize and restrict the private placement fund.By consulting and following the outstanding experience of world negotiable securities market advanced country. The author put forward how to perfect the fund law and how to promote our country securities market.This text divides five parts, and leads to the piece style as follows:The first chapter, make clear the basic theory .In this chapter, the author makes clear the basic definition of private placement fund. It is the investment fund established by way of non-open method towards minority investment persons. The author studies the origin place and development of it and sum up the three stages of the private placement fund's development at our country.The second chapter, sum up our country's present situation .The author concludes three factors in order to sum up the situation of our country at present about the private placement fund. One factor is that because there is no legal position for private placement fund in our country. The other factor is in the search of the objective circumstances of private placement fund. The author studies it by scope, investment main body, investment direction, interest distributions, the publishing information and the crime problems. The last factor is the evaluation of the management method of our country's private placement fund market.The third chapter, study the legalization problem. It is very necessary to explore the private placement fund to give our fund market a guidence. It is a trend to legalize the private placement fund.The 4th chapter, Borrow successful international experiences. The author expound the law system of the United States and Britain and Japan ,compare at the aspect of the fund investment , and among them United States is the most advanced nation of investment funds , so the focal point has been analyses the American personal standard and characteristic raising the fund.The 5th chapter, establish characteristic system .How to choose the right way to restrict our country's private placement fund is essential. This is also the focus of this thesis. Finding the genuine system which fit for our country's national condition is imperative among wide and rigorous method. The author put forward many suggestions about private placement fund's law restriction.