China Securities Regulatory Commission (CSRC) : Make solid efforts in the supervision, crackdown and liquidation of private equity funds and regional equity markets in 2022

2022-06-25 0 By

On March 25, the China Securities Regulatory Commission (CSRC) held a meeting on the supervision, Crackdown and liquidation of private equity funds and regional equity markets in 2022, according to CSRC website on April 2.The meeting thoroughly studied and implemented the spirit of the Central Economic Work Conference and the national “TWO sessions”, earnestly implemented the arrangement of the work conference of the CSRC system in 2022 and the requirements of the central inspection and rectification, summarized the work in 2021, analyzed and evaluated the current situation, and made arrangements for the key work in 2022.CSRC Party committee member, vice chairman Fang Xinghai attended the meeting and made a speech, 5 units made an exchange speech.Responsible persons from discipline Inspection Group of CSRC, Financial Audit Bureau 3 of China National Audit Office, relevant departments of CSRC, securities regulatory bureau and various units of the system attended the meeting on-site or via video.Conference pointed out that since 2021, private equity and regional equity markets regulation, illegal publications and form work resolutely implement the party central committee and the State Council all policy decisions and party committee work arrangements, adhere to the “build system, not to interfere in, zero tolerance”, continue to improve the system of private equity fund regulation, optimize the policy of private equity register put on record, deepen regional innovation pilot equity market,Risks involving private equity funds and various local trading venues were prudently resolved, and illegal securities and futures activities were severely cracked down, so that risks of all kinds were generally reduced.The meeting held that the current international situation is increasingly complex, but China’s economy is resilient and its long-term sound fundamentals will not change.Private equity funds and regional equity markets are playing an increasingly prominent role in supporting the development of the real economy, providing financing services for micro, small and medium-sized enterprises, and promoting independent innovation. The industry and market ecosystem are constantly improving, laying a solid foundation for high-quality development.We should adhere to the bottom-line thinking, strengthen analysis and judgment, and do a good job of preventing, resolving and dealing with risks of private equity funds and various local trading venues in a prudent and orderly manner.The meeting stressed the need to earnestly implement the central inspection and rectification requirements, effectively improve the political standing, continue to strengthen the work style, take the initiative to do a solid job in 2022 private equity funds and regional equity market supervision, crackdown and rectification work, with excellent results to welcome the party’s 20th National Congress.First, we will improve the regulatory rules for private equity funds, optimize the supervision and services of private equity funds, steadily defuse industry risks, and promote the healthy development of the industry.Second, actively give play to the coordination and promotion role of the inter-ministerial joint mechanism of sorting out and rectifyingall kinds of trading venues, further reduce the number of GOLD exchanges, and steadily resolve the stock risks;The special rectification work of “fake gold Exchange” (” registration and archival institutions “) was launched.Third, we will severely crack down on illegal securities and futures activities, closely follow the new situation and trends, step up investigation and punishment of africa-related cases, and earnestly protect the legitimate rights and interests of investors.Fourth, strengthen the guidance, coordination and supervision of regional equity market work, deepen all kinds of innovation pilot work.