Study On The Legal Supervision Of Privately Offered Fund In China

The privately offered fund is a kind of collection which raises funds privately from fewcertain institutional investors and funded individual investors, and then engages in theinvestment. It has some features as follows: the raised object is specific; the way to raise isclosed; the investment decisions are personality; the information disclosure is voluntary; itsrisk-sharing mechanisms and incentives are distinctive. We can make different distinguishabout the privately offered fund according its potential investment direction, the way oforganization, the level of opening, and so on. The development of privately offered fund inChina is very late, and now none of a law is formulated for it. So that we are now lack of aunified regulatory principles and regulatory standards. And also the supervision scale is notperfect, the regulatory basis are fuzzy. In addition to , the supporting system of legalsupervision is unsound. Therefore, to explore the legal supervision of privately offered Fundin China is urgent. Based on the analysis of the economic value, the legal value and theimportant significance of legal supervision to privately offered fund, with the excellentsupervisory experience from Britain, Japan, and the United States, the author discussed theregulatory principles and standards deeply, such as the departments, the objects and themethods of Legal Supervision. Then the author studied on how to perfect the legislation andthe supporting system of legal supervision, such as the industry self-regulation.