私募基金新规出炉！明确管理人、托管人信披原则要求等，9月起施行

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released the "Private Investment Fund Information Disclosure Supervision and Management Measures," which will take effect on September 1, 2026, aiming to enhance transparency and regulation in the private fund industry [3][4]. Group 1: General Principles - The measures clarify the disclosure principles required for private fund managers, custodians, and sales institutions to investors [3]. - It establishes the basic requirements for information disclosure, including the obligation for fund managers to disclose information according to the fund contract, and outlines voluntary disclosure requirements [3][4]. Group 2: Reporting Requirements - The measures specify the types and content of regular reports for private securities investment funds and private equity funds [4]. - Fund managers are required to prepare and disclose temporary reports in the event of significant occurrences and to provide liquidation announcements and related information promptly [4]. Group 3: Management of Disclosure Affairs - Fund managers and custodians must establish sound information disclosure management systems and comply with disclosure obligations related to shareholders, partners, and actual controllers [4]. - There are enhanced requirements for managing undisclosed information and preserving documentation [4]. Group 4: Supervision and Legal Responsibilities - The CSRC will supervise the information disclosure activities of private fund managers, custodians, sales institutions, and related personnel, with the authority to take administrative measures such as corrective orders and warnings [4]. - The measures outline the legal responsibilities and potential penalties for violations of the private fund regulations [4][5]. Group 5: Future Actions - The CSRC plans to organize the implementation of the new disclosure measures and strengthen the regulation of disclosure behaviors to promote a standardized and healthy development of the private fund industry [5]. - Ongoing efforts will be made to implement the Private Fund Regulations and develop comprehensive regulatory rules for the entire private fund operation process [5].