TREE NEWS update: China’s securities regulator, the CSRC, has issued draft rules on supervision of private fund raising for public comment. The draft, containing seven chapters and 45 articles, sets principles of seller responsibility and buyer beware, refines qualified investor standards, and strengthens look-through supervision. It also specifies requirements for fund-raising processes, safekeeping of raised funds, and legal liabilities.
China CSRC seeks comments on private fund raising rules
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