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Since this yearCryptogamescomingsoon764 private equity fund managers were cancelled, and supervision increased to promote the standardization of the industry, purify the market environment and enhance investor confidence.

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[strengthened supervision of the private equity fund industry, cancellation of 764 managers] recently, the official website of the China Securities Investment Fund Industry Association (hereinafter referred to as the China Association of Securities Investment funds) announced that nearly 100 private equity fund managers had been cancelled for "12 months without management cancellation." Since the beginning of this year, the liquidation of the private equity industry has accelerated. As of May 13, 764 private equity fund managers have been cancelled, including private equity fund managers and private equity and venture capital fund managers. Some institutions have been established for more than a decade. The official website of the China Foundation Association explained that according to the relevant provisions of the measures for the Registration and filing of Private Investment funds, private equity fund managers are on record in all cases.CryptogamescomingsoonAfter the liquidation of the private equity fund, the registration of the new private equity fund which has not been filed within 12 months will be cancelled. Prior to this, there were three types of cancellation announced by the China Foundation Association, including active cancellation, cancellation in accordance with the announcement and Association cancellation, while "12-month unmanaged cancellation" was a new type. On February 9 this year, 397 private equity fund managers were cancelled by the association because of abnormal operation. In addition, the China Foundation Association has issued six announcements to reveal the reasons for the cancellation of some private equity fund managers. On May 10, CICC announced the cancellation of the registration of nine private equity fund managers because they failed to submit special legal opinions after the expiration of the time limit. On April 26, CICC cancelled the registration of six private equity fund managers because it did not meet the registration requirements of managers. The China Foundation Association said that it will continue to implement the basic policy of "supporting the superior and limiting the inferior", improve the integrity information recording mechanism of the private equity fund industry, and promote the healthy development of industry compliance. Regulators strengthen the supervision of illegal private equity fund managers, strictly manage and punish violations, and promote the specialization and standardization of the private equity industry. Industry insiders believe that the acceleration of the clearing speed of the private equity industry is a positive market signal. Strengthening supervision will help to promote the specialization and standardization of the private equity industry, purify the market environment, create a fair competition platform for compliant private equity firms, enhance investor confidence, and lay the foundation for the long-term and healthy development of the private equity industry.