Research On Legal Problem Of Private Equity Investment Fund In China

The private equity investment fund is a product of financial innovation development, it has an important role on cultivating multi-level capital market, expanding the financial channels for enterprises, promoting the rapid growth of the real economy. At present, The private equity investment fund in China now are mainly regulated by "The Company Law","The Securities Law","The Trust Law","The Partnership enterprise Law" and other rules or policies which are made by the relevant departments of the state or the local governments. However, these files have not yet formed a standardized of clear and actual system. There are many problems to be solved in the actual operation. For example, the related laws of private equity investment funds’different organizational forms are not perfect, the qualification and number of investors in the fund is not clear, the forms of promotion is illegal, the information disclosure system is not perfect, the subject of supervision and authority is not clear, and the content of supervision is uncertain etc. These problems lead to the phenomenon of illegal fund-raising emerge in an endless stream, and so that the private equity investment fund face huge legal risks in the operation process.The private equity investment fund has a significant role in promoting China’s capital market and the real economy. However, the state of disorder of the private equity investment fund in China has restricted its development. Therefore, we should strengthen the legal environment of it. By the chance of modifying "Law Of Investment Securities", we should make a law for the private equity investment fund, including the fund managers, the fund custodians, the forms of organization, the investors’ qualification and rights, the information disclosure, the industry association, the supervision and management, and the legal liability etc. At the same time, we should clean up and standardize all policies and regulations, so as to complete the supporting specification and the interpretation of the laws, and strengthen the operability of the scientific system of legislation and provisions. Thus, establish a legal boundary for the development of it and promote the whole industry’s development in a healthy and orderly way, so as to play its effect to the full.