Font Size: a A A

The Supervision System Of Private Equity Securities Investment Funds In China

Posted on:2016-01-17Degree:MasterType:Thesis
Country:ChinaCandidate:S LiuFull Text:PDF
GTID:2296330461495242Subject:Economic Law
Abstract/Summary:PDF Full Text Request
Private Equity Securities Investment Funds, is one of the Investment Funds which fund managers use a non-public way for a few investors who have specific qualifications to raise funds. Private Equity Securities Investment Funds has some distinct characteristics, mainly displays in: use a privately way to raise funds; the issuance objects is limited to qualified investors; the investment objects is limited to the shares of company or other financial derivatives; the ways to investment are flexible; the degree of regulatory is relatively loosed. Private Equity Securities Investment Funds regulation is a derivative form of Securities Investment Funds regulation, they have the same theoretical basis, but because of the Private Equity Securities Investment Funds in our country is also in development, and once in a vacuum of regulation in our country, so it was wandering for a long time at the edge of the legal and illegal.As we all know, the state intervention of the market is due to the market failure, and which has state intervention, which has intervention supply naturally, furthermore the intervention supply is form of the hand of the state, then the market economy is also the economy which under the rule of law,the hand of the market needs the hand of the national macroeconomic regulation and control,so the development of the Private Equity Securities Investment Funds need a perfect supervision system to protect it. Although, the newly revised “Securities Investment Fund Law” in 2012 put the Private Equity Securities Investment Funds into it’s adjustment scope of the law for the first time, and the “Interim Measures For The Supervision And Administration Of Private Equity Investment Fund” which published in 2014 also further standardized the private investment fund activities, but subject to a certain period of the political, economic and cultural conditions, even the Private Equity Securities Investment Funds regulation were took to the legalization of course, there is still a lot of deficiency in the process of practice, such as the supervision department is not unified, the regulatory goals is not clearly, the object of regulation is not standard, the regulatory path is not soundly, the legal liability is not perfect and so on. However, these problems had a better solution in the United States, Britain, Germany, Japan and other developed countries, and compared to the systematic Private Equity Securities Investment Funds supervision system in the related developed countries, further attention to the combination of the government regulation and the self-regulation, according to construct a concrete system such as the investors access system, the managers access system, the information disclosure system, and the legal liability system etc. Then play a greater effectiveness of the Private Securities Investment Funds regulation.
Keywords/Search Tags:Securities Investment Fund Law, Private Equity Securities Investment Funds, Supervision System
PDF Full Text Request
Related items