Research On Legal Issues Of Private Equity Fund Supervision In China

Private equity funds originated in the United States,initially by specialized investment institutions to raise the money of the rich and invest in high-tech small and medium-sized enterprises at greater risk.Since then,private equity funds have gradually developed into an important financing channel for small and medium-sized enterprises,which occupies an increasingly important position in the financial system of the United States.In the 1980 s,when China's reform and opening up early,private equity funds were introduced into the country,after decades of development,China's private equity fund industry has formed a certain scale,in the promotion of China's economic transformation and upgrading,industrial structure adjustment,improve the ability of enterprise innovation and operational level play to the end.It's important.With the rapid development of private equity funds in China,the loopholes in industry supervision begin to appear gradually.In recent years,a large number of private equity fund institutions lost,fund managers run away,investors have no access to frequent incidents,seriously disturbed the normal order of social and economic development.Therefore,the public's demand for strengthening the supervision of private equity funds is increasing,and its regulatory problems can not be ignored.At present,the lag of China's legal system and the imperfection of the specific system are the main obstacles restricting the development of private equity funds in China.The paper mainly focuses on the legal status of private equity funds in China and the system of raising funds Investment management,custody system,information disclosure,exit channels and other five aspects of in-depth analysis and pointed out its existing regulatory loopholes,including private equity fund legal status is not clear,registration and filing system defects,raising methods are not standardized,fund investment moral hazard,custody system is not perfect,information disclosure content is not comprehensive,fund managers violate low costs,exit channels are not smooth.In view of these problems,on the one hand,the paper takes into account the development stage and present situation of domestic private equity funds,on the other hand,it draws lessons from the western developed countries' supervision concept and relevant specific system to improve the private equity funds in China The construction of legal system and specific system of supervision of power fund puts forward its own opinions,including strengthening its legal status from the legislative level;giving full play to the role of self-discipline organization,perfecting the system of registration and filing,standardizing the way of raising funds,establishing fund manager and investment system and personal credit information reporting system,raising the illegal cost of fund manager and compacting the responsibility ofintermediary;perfecting the content of information disclosure and reasonably standardizing the relevant exit system.Through all-round strict supervision of private equity funds,it can not only guide their healthy development,but also effectively protect the legitimate rights and interests of investors and safeguard the market To promote the healthy and orderly development of our private equity fund on the track of rule of law and provide a new engine for our economic development.