中基协发布新规！私募信披细则来了

Core Viewpoint - The article discusses the new "Private Investment Fund Information Disclosure Implementation Rules" (referred to as "Private Disclosure Rules") and the "Important Content Template" for private investment funds, which will take effect on September 1, 2026. These rules aim to enhance information disclosure standards and protect investors' rights [3][4]. Group 1: Disclosure Requirements - The Private Disclosure Rules consist of seven chapters and fifty-one articles, detailing requirements for periodic reports, temporary reports, and liquidation reports, including provisions for transparent disclosure, cross-border investments, and significant related-party transactions [3][4]. - Specific disclosure requirements for private equity fund periodic reports have been refined, including net asset value, leverage levels, related transactions, and reports from managers and custodians [6]. - The rules clarify investment target disclosure requirements, including investment industry, principal and book value, exit methods and amounts, and investment structures [6]. Group 2: Major Related Transactions and Temporary Reports - The Private Disclosure Rules specify the disclosure content for "major related transactions" in temporary reports, including the names of related parties, relationships, basic information about transaction targets, transaction prices, amounts, pricing basis, and transaction summaries [8]. - The rules also detail the content for liquidation reports, stating that if a private fund anticipates it cannot complete liquidation within the specified period, it must disclose this to investors before the end of the original liquidation period [8]. - The association plans to overhaul the current private investment fund information disclosure backup system in accordance with the new rules and will announce the specific launch time later [8].