Newsletter summary

The China Foundation Association cancels the registration of 12 abnormal private equity fund managers, reminding investors to pay attention to compliance and safeguard their rights and interests.

Text of news flash

[China Securities Investment Fund Industry Association cancels the registration of 12 private equity fund managers] on April 19, the China Securities Investment Fund Industry Association issued a notice, announcing the cancellation of the registration of 12 private equity fund managers. These 12 institutions were disqualified as managers because they failed to submit special legal opinions that met the requirements within the prescribed time limit and had abnormal business conditions.

The notice pointed out that 12 private equity fund managers, including Qingdao Tayun Investment Management Co., Ltd., failed to submit special legal opinions within three months after receiving written notice, so the association decided to cancel the registration of these institutions.

The cancelled private equity fund managers and relevant parties need to properly dispose of the property under management in accordance with the provisions in order to protect the legitimate interests of investors.

The association also reminds investors to continue to pay attention to the integrity and compliance of private equity fund managers, make fund investment decisions cautiously, and safeguard their legitimate rights and interests through relevant legal channels.