Legislation roundup: Private funds, anti-money laundering and insurance companies
January 15, 2021 | BY
Susan MokQFIIs are qualified investors of private investment funds, online small loan business is added to the scope of financial institutions for regulation of their anti-money laundering management and insurance asset management are graded by their risk control levels.
China Securities Regulatory Commission, Several Provisions on Strengthening the Oversight of Private Investment Funds
The number of investors in a private fund may not exceed the specific number provided for in laws such as the Securities Investment Fund Law, the Company Law, the Partnership Law, etc. Where an investor transfers fund units, the transferee shall be a qualified investor and the number of investors after the transfer shall comply with this Article. The asset management products lawfully offered by institutions regulated by the State Council's financial regulators, qualified foreign institutional investors and renminbi qualified foreign institutional investors are deemed qualified investors as specified in Article 13 of the Tentative Measures for the Regulation of Private Investment Funds, and no further penetrative check of their end investors shall be conducted.
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