中基协发布案例：私募基金投资者应具备与认缴规模匹配的实缴出资能力

Core Insights - The article discusses the importance of transparency in private fund registration and filing, highlighting the need for the industry to understand the latest registration status for better service and healthy development [2] Group 1: Registration and Filing Dynamics - The China Securities Investment Fund Industry Association periodically releases updates on private fund registration to enhance transparency and address industry needs [2] - The latest update summarizes typical issues such as investors lacking sufficient funding capacity, providing case studies and analyses for public release [2] Group 2: Case Study Analysis - Case study involves Investor B, which committed to a 1 billion yuan subscription but only contributed 10 million yuan, with a registered capital of 100 million yuan and a net asset of 50 million yuan [3] - Investor C committed to 400 million yuan but only contributed 4 million yuan, claiming future project income as a source for further contributions, despite having a net asset of 10 million yuan [3] - Both investors demonstrated a mismatch between their actual funding capacity and their subscription amounts, leading to the rejection of their registration applications by the association [4] Group 3: Regulatory Implications - The association requires private fund managers to verify that investors' subscription amounts align with their funding capabilities, as per relevant regulations [4] - If investors cannot provide proof of funding capacity, private fund managers must adjust the fund size accordingly and ensure that investors have adequate funding before resubmitting applications [4]