Research On The Supervision Of Private Placement Fund In China

Private placement fund has been nearly20years of development history and has formed acertain scale in China. However, behind the big scale, due to the lack of clear legal status,effective regulatory, private placement fund generated a series of problems in the developmentprocess. In the future, as the international private placement fund, private placement fund inchina will be the market focus and the fastest-developing part in the capital market. Therefore,targeted the problems of private placement fund’s supervision, to strengthen theoretical researchabout the legislative and regulatory framework has important practical significance.In this paper, starting from the financial point of view, the use of analysis methods, normsand historical research to study the regulation of private placement fund in China. Firstly,through the course of development of the study of China ’s private placement fund, sum up thecharacteristics of private placement fund in China, further found that the particularity of ourprivate placement funds in the regulatory, which makes supervision difficult. And then analyzesthe existing problems in China ’s private placement fund regulation. Private placement fund inChina rise to the development of the course is shorter, in the course of the operation is still a lackof advanced theories as a guide, it draws on the regulatory system and the practical experience ofmature private placement funds in the United States, Japan, the United Kingdom, EuropeanUnion, Hong Kong, China and Taiwan. Approach the risk of foreign regulatory authorities in thesupervision to prevent a similar private placement fund in China and Countermeasures. Finally,China’s actual situation, the control system to improve the private placement fund in China.China’s private placement fund need to be regulated mainly by government regulation andsupplemented by self-regulatory organization. then builds a regulatory frame work, which is thecombination of external supervision and internal supervision, the external supervision includingdirect supervision of the government-led and self-regulatory organization led indirect supervisionand the internal control is the fund’s internal corporate governance and risk management. But inthe long run, the administrative regulation will gradually weakened, the market self-regulationwill be gradually increased.