Views sought for investment fund rule

Source: Xinhua | 2017-08-31

CHINESE authorities are soliciting public opinion on a provisional regulation that aims to further regulate activities involving private investment funds.

The regulation focuses on risk prevention and protection of investor rights during fund raising and investment operations, the Legal Affairs Office of the State Council, China’s Cabinet, said yesterday in a note.

It is necessary to issue such a regulation given the irregularities arising in the fast-developing industry in recent years, the office said.

The regulation states that fund managers and custodians should join the industry association to submit information on fund operations and the association should create a mechanism to handle investors’ complaints.

The public can give feedback on the provisional regulation by visiting the office’s website before September 30.