Analysis Of Private Equity Fund Legislation

The research object of this thesis is private placement fund in our country securities market, which is a new financial phenomenon. But at present the private placement fund in our country is still in "the gray belt".Most are secret, chosen and ensured by the market, and thus escape the management of the supervision agency and concern of the market. This is mainly because the private placement fund lacks the specific definition and guarantee in the law. Therefore, it is urgent to regulate the private placement fund from the consideration of legislation design.The thesis first compares different definitions of the private placement fund given by different scholars, and then makes a law definition. At the same time, by the contrastive analysis between the private and public placement fund, it points out the unique advantage of the private placement fund, which paves the way for the following discussion of the private placement fund in theory.There are lots of private placement funds exist in our economic life and have no law to follow. So it is urgent of regulating it by legislation. Then the author analyses the necessity of legislating the private placement fund both from positive and negative aspects. On the one hand, the private placement fund itself has many risks. Lacking the relative law, the private placement fund, which belongs to "the gray tribe", has many dangers; On the other hand, regulating the private placement fund by legislation can not only satisfy various demands of different investors, but also does good to the healthy development of securities market.In the end, the thesis suggests constructing the law system of the private placement fund. This part is the main body of the thesis. Based on the experience of mature foreign legislation and combining our own national situation, it makes a design for our country's private placement fund system.It firstly combines the limitation in the number and qualification of investors in the American system for the private placement fund, and reaches a confirmation standard for our country's qualified investors and points out during the collecting process of the private...