Legislation roundup: Private investment funds, patent disputes and wealth management

Capital markets

China Securities Regulatory Commission, Tentative Measures for the Regulation of Private Investment Funds (Draft for Comments)
中国证券监督管理委员会私募投资基金监督管理暂行办法（征求意见稿）

According to the Draft, a qualified investor is an entity or individual that invests not less than Rmb1 million in any one private fund. Furthermore, such investors as social security funds and enterprise annuities are deemed qualified investors. Also, the Draft specifies that the scope of investment of a private fund includes the trading of stocks, equity, bonds, options, futures, fund units and other subjects of investment jointly agreed upon by the investors.

See the digest for more details.

Further reading
PRC Securities Investment Fund Law (Revised)
Private funds finally given regulatory system


Intellectual property

Supreme People's Court, Decision on Amending the (Draft for Public Comments)
最高人民法院关于修改《最高人民法院关于审理专利纠纷案件适用法律问题的若干规定》的决定 (公开征求意见稿)

Where a legal action is instituted in respect of the infringement of a utility model patent or design patent with a filing date on or after October 1 2009, the plaintiff may, at the time of instituting the legal action, present a patent evaluation report issued by the State Council's patent administrative department.

See the digest for more details.

Further reading
Supreme People's Court, Several Provisions on Issues Concerning the Application of the Law in the Trial of Patent Disputes (Revised)
PRC Patent Law (3rd Revision)


Banking

China Banking Regulatory Commission, Circular on Matters Relevant to Improving the System for the Organisation and Management of a Bank's Wealth Management Business
中国银行业监督管理委员会关于完善银行理财业务组织管理体系有关事项的通知

The Circular consists of a total of 15 articles, with the main contents including: requiring banks to establish dedicated wealth management business departments that are responsible for the centralised operation and management of the entire bank's wealth management business, expressly setting forth the timetable for banks' multidivisional system reform, requiring banks to strictly differentiate customers by type and manage the sale of wealth management products by type, and incorporating the results of the annual regulatory evaluation of banks' wealth management business operations into banks' annual regulatory evaluations, with the same serving as an important basis for institutions' regulatory grade.

See the digest for more details.

Further reading
Circular on Issues Relevant to Regulating the Investment Operation of the Wealth Management Business of Commercial Banks
Measures for the Administration of the Sale of Wealth Management Products of Commercial Banks