Core Viewpoint - The Shenzhen Securities Regulatory Bureau has identified significant misconduct among private fund managers, including engaging in unrelated business activities and violating compliance regulations, which undermines investor interests and market order [1][4][6]. Group 1: Misconduct in Private Fund Management - Some private fund managers have deviated from their primary responsibilities by engaging in unrelated business activities such as selling fraudulent gold exchange products and providing consulting services [2][3]. - Specific cases include a private equity firm promoting a real estate company's receivables plan and charging over 1.5 million yuan in consulting fees, as well as another firm offering financing services and charging fees based on financing amounts [2][3]. Group 2: Profit Transfer and Investor Rights - There are notable instances of profit transfer using managed private fund products, which harm investor rights. This includes arrangements where fund managers receive payments for facilitating bond transactions and charging excessive advisory fees without disclosing them to investors [4][5]. - A specific case involved a private equity firm selling bonds to its own executives at a price significantly lower than market value, only to repurchase them at a higher price shortly after [5]. Group 3: Criminal Activities and Regulatory Violations - Certain private fund managers have exploited their qualifications to engage in illegal activities, such as illegal fundraising and market manipulation, highlighting the urgent need for stricter regulation [6][7]. - Activities include unauthorized fundraising through unregistered partnerships, lending management qualifications to facilitate illegal public fundraising, and using private fund accounts for illegal margin trading [6][7]. Group 4: Regulatory Recommendations - The Shenzhen Securities Regulatory Bureau has proposed four regulatory measures to address these issues, including focusing on core business operations, enhancing compliance and internal controls, preventing illegal activities, and ensuring sustainable operational capabilities [8][9][10]. - The bureau emphasizes the importance of private fund managers adhering to investor interests and maintaining a high level of compliance to prevent conflicts of interest and protect investor rights [9][11].
卖课、算命、利益输送……深圳证监局通报私募乱象
券商中国·2025-06-23 05:04