Newsletter summary
The registration of the manager was revoked due to false disclosure of fund net value information and failure to cooperate with self-discipline inspection, and the private equity fund property needs to be liquidated or transferred, and shall not be exempted from legal liability.
Text of news flash
[the registration of the manager of the former Haichang Fund Management Co., Ltd. was revoked due to false disclosure and failure to cooperate with the inspection] the China Securities Investment Fund Industry Association announced on April 30, 2024 that the former Haichang Fund Management Co., Ltd.200bonuscasinoThe disciplinary decision. The association pointed out that the company falsely disclosed the net value of the fund and did not cooperate with the self-regulatory inspection. It is understood that the illegal facts involved in the former sea chief rich include false disclosure of fund net value information and failure to cooperate with the inspection work. In September 2020, a natural person investor applied for arbitration over a dispute between him and former Haichang Fu over fund products. The legal representative of former Hai Changfu disclosed the net value information to the applicant through Wechat, but the information was inconsistent with the fund net value information reviewed by the custodian. In addition, during the period from July to August 2023, the Association twice sent inspection notices, requiring the former sea chief to submit information notes and related materials on institutions, personnel, products, internal control systems, etc. However, Qianhai Changfu did not submit any materials. Although the former sea chief rich pleaded against the charges of false disclosure and failure to cooperate with the inspection, after being tried by the association, his defense opinion was not approved. In this case, in accordance with the relevant laws and regulations, the Association decided to cancel the registration of the manager of the former Haichang Fu. As a result of the punishment, former Haichang Fu can no longer carry out fund management activities, and must liquidate his private equity fund property in time, or transfer the responsibility to him.200bonuscasinoHe is a registered private equity manager. At the same time, the former head of the rich has not yet liquidated private equity fund fiduciary management responsibilities and the relevant responsibilities undertaken in accordance with the law is not exempted from this punishment, it needs to perform the corresponding legal responsibilities.
