影响20万亿！刚刚，证监会发布新规

Core Viewpoint - The private equity fund industry in China, exceeding 20 trillion yuan, is set to implement new regulatory measures with the release of the "Private Investment Fund Information Disclosure Supervision and Management Measures" by the China Securities Regulatory Commission (CSRC), effective from September 1, 2026 [1]. Group 1: Regulatory Framework - The "Private Investment Fund Information Disclosure Measures" aims to enhance transparency and protect investors' rights by establishing clear disclosure responsibilities for fund managers and custodians [4][5]. - The measures consist of seven chapters and forty-four articles, outlining the principles and requirements for information disclosure by private fund managers, custodians, and sales institutions [5]. Group 2: Disclosure Requirements - Fund managers are required to disclose information according to the fund contract, including the content, channels, methods, and frequency of disclosures [5]. - Specific reporting requirements include quarterly reports for private securities investment funds within one month after the quarter ends, and semi-annual reports for private equity funds within two months after the half-year ends [6]. Group 3: Management and Supervision - Fund managers and custodians must establish robust information disclosure management systems and comply with obligations regarding the disclosure of shareholders and partners [6]. - The CSRC will supervise the disclosure activities of fund managers and custodians, with the authority to impose administrative penalties for violations [6][7]. Group 4: Feedback and Adjustments - The CSRC has considered public feedback on the disclosure measures, leading to adjustments such as extending the disclosure timeline for quarterly reports and clarifying the standards for disclosing underlying asset information [10][11].