A Study On Legalization Of Private Placement Fund In China

As China's economic development and the continuous accumulation of social wealth,in order to meet the needs of different investor risk appetite,financial management tools have been innovation,private investment funds came into being,and its mode of operation and flexible and relaxed and the information disclosure mechanism higher rate of return on investment unique in the financial field.According to incomplete statistics,China's current scale of private investment funds have reached about 1 trillion yuan in the financial markets occupy an important position,and the prosperity of the whole financial market and stability play an important role.However,the majority of private investment funds as a result of the lack of clearly defined legal and normative,in the "underground state",drifted away from the law outside the regulatory system,with the scale of private investment funds continues to expand,the potential financial risks will be increasingly exposure,become a threat to the stability of China's financial markets a major risk.How to make this a powerful financial force a "ground" and give full play to its unique advantages in China's capital market has become an open,fair and strong competitors in the high-income group to meet the growing demand for investment and improve market efficiency and promote the healthy and stable development of financial markets is the purpose of this study is located.In addition to the full text of the introduction and conclusion,the divided into four parts:The first part,an overview of private equity investment funds.The first part of an analysis of the definition of private equity investment fund,the characteristics of its legal nature,and then gave a briefing on China Private Equity Fund and the development of background and analysis on the basis of private investment funds in China's Development and Problems for my argument below,the legalization of private investment funds made a theoretical need for bedding.The second part,our private investment funds of the need for legalization.The major part of both the positive and negative aspects from the discussion:on the one hand,in the absence of law,in the "gray state" There are a number of private equity funds and will thus bring a huge risk;the other hand,if it norms of development,will be of positive significance, not only at different levels to meet the diverse needs of investors and financial markets contribute to the healthy and orderly development.The third part,China's private equity fund feasibility of legalization.First of all,pointed out that part of our private investment funds the opportunity to legalize the reality;and then to China's existing legal system related to the analysis of existing laws and regulations reveals the private equity investment funds on the development of the provision of legal support and to be perfect;the last analysis of the United States,Britain and Japan-related private equity investment fund legal system,with a view of China's legalization of private investment funds can provide some experience to draw on.PartⅣ,and guide our country to legalize private investment fund ideas and initiatives. Focuses on the part of private investment funds in China should be "How to legalization" is the top priority of the full text.To guide private investment funds in China the idea of legalization,which in part,after all,a private equity fund with the public offering significantly different characteristics,so its not just the legalization process is the process of control should learn from overseas private equity investment fund regulation experience,combined with China's realities,to private investment funds restricted to moderate and fully demonstrate its true colors,to avoid public offering Fund "homogenization" and given a few specific proposals.Guide for the legalization of our private equity investment funds measure,the part from the access system,the path to legalization,as well as the three aspects of the regulatory system is discussed.First proposed the system of qualified investors overseas private investment funds practice supervision,China can learn from,and an analysis of how to "qualified investors" defined;followed by pointed out that the "limited partnership" should be the future of China's private Investment Fund to develop a more satisfactory form of law; Finally,with regard to regulation of private investment funds,private equity investment funds, I believe that need is not the same as the public offering funds to strict control and management,but can give full play to its strengths,as well as capital markets in order to maintain order and protect the the interests of investors for the purpose of management principles,it makes a change in private investment funds of the principles of supervision,and further regulatory measures to put forward some specific recommendations.