2024年5月10日，《每日经济新闻》记者来到浙江瑞丰达资产管理有限公司上海办公区，发现上海市公安局浦东分局经侦支队抵达现场，并且查封了瑞丰 达资产的办公处。有上海市公安局浦东分局经侦支队人士告诉记者，"我们公安机关现在介入了这个情况，正在调查取证中。" 每经编辑｜何小桃 据证监会1月23日消息，近日，证监会对浙江瑞丰达资产管理有限公司（以下简称瑞丰达）及关联私募机构、实际控制人孙伟等相关责任人员违法违规行 为作出行政处罚。经查，瑞丰达及关联私募机构、相关责任人员严重违反私募基金法律法规。上海证监局对瑞丰达及关联私募机构共罚没2800余万元，对 5名责任人员罚款1300余万元，对瑞丰达实际控制人采取终身证券市场禁入措施。中国证券投资基金业协会注销相关私募机构管理人登记。对于相关违法 行为可能涉及的犯罪问题线索，证券监管部门将坚持应移尽移的工作原则，依法依规移送公安机关。 证监会将坚决贯彻落实党中央、国务院决策部署，持续依法严厉查处私募基金领域违规募集、侵占挪用、自融自用、利益输送等恶劣违法违规行为，严肃 追究违法主体责任，提高违法违规成本，持续净化市场环境，同时推动私募机构抓紧整改各类不规范行为，促进行业规范 ...

Core Viewpoint - The article discusses the severe penalties imposed on Zhejiang Youce Investment Management Co., Ltd. for serious violations of private fund regulations, including misappropriation of nearly 1 billion yuan in funds and falsification of product information, marking it as one of the heaviest penalties in the private equity industry history [1][2][12]. Group 1: Violations and Penalties - Zhejiang Youce Investment was fined 21 million yuan, and three responsible individuals were fined a total of 14.25 million yuan, with the actual controller Huang Wei receiving a lifetime ban from the securities market [1][12]. - The company misreported the actual controller's information, with Huang Wei being the actual controller since March 2019, but the company continued to report Li Xiaoqing as the controller until the investigation [8][10]. - Youce Investment misappropriated fund assets, transferring 9.55 billion yuan from bank deposits to other accounts without returning the funds [10][11]. Group 2: Fund Structure and Mismanagement - Youce Investment managed over 2 billion yuan in assets and established multiple fund products, with a complex structure involving both fundraising and investment layers [4][10]. - The company provided false information regarding the assets, income, and net value of its funds over a period of more than four years, affecting 11 fund products [11][15]. - The firm mixed its operations with related entities, leading to a lack of clear financial separation and compliance with investor risk assessments [15]. Group 3: Regulatory Response and Industry Implications - The case reflects the increasing regulatory scrutiny in the private equity sector, with the China Securities Regulatory Commission (CSRC) emphasizing the need to eliminate bad actors and promote a healthy market environment [2][12][16]. - The penalties are seen as a significant step in the ongoing efforts to strengthen regulations and reduce risks in the private fund industry, with over 8,000 illegal or zombie institutions cleared in recent years [15][16]. - The regulatory approach combines punishment with education, aiming to guide the industry towards better service for the real economy and national strategies [16].

Group 1 - The core issue involves Zhejiang Youce Investment Management Co., Ltd. and its actual controller engaging in illegal activities such as misappropriation of fund assets and submitting false information, leading to severe violations of private fund laws and regulations [1][4] - The China Securities Regulatory Commission (CSRC) imposed a fine of 21 million yuan on Youce Investment and 14.25 million yuan on three responsible individuals, while the actual controller faces a lifetime ban from the securities market [1][4] - The China Securities Investment Fund Industry Association has revoked Youce Investment's registration as a fund manager, and any criminal issues related to the violations will be reported to law enforcement [4] Group 2 - The CSRC emphasized that the misappropriation of private fund assets severely harms investors' legitimate rights and disrupts market order, committing to strictly enforce regulations to eliminate bad actors and promote a healthy industry environment [4] - In August 2024, reports emerged about over 1.25 billion yuan in deposits allegedly missing from three funds managed by Youce Investment at Chang'an Bank, which the company attributed to the bank's violation of agreements [4] - Chang'an Bank later stated that the claims of missing deposits were false, asserting that the documents used in the reports were forged, and the bank has reported the matter to law enforcement [5]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed severe administrative penalties on Zhejiang Youce Investment Management Co., Ltd. for illegal activities, including misappropriation of fund assets and submission of false information, marking one of the heaviest penalties in the private equity sector [1][2]. Group 1: Penalties and Actions - Zhejiang Youce Investment was fined 21 million yuan, while three responsible individuals were fined a total of 14.25 million yuan, with the actual controller facing a lifetime ban from the securities market [1][2]. - The China Securities Investment Fund Industry Association has simultaneously revoked the management registration of Youce Investment [1][2]. - The CSRC emphasized its commitment to enforcing the new "National Nine Articles" to rigorously investigate and penalize various illegal activities in the private equity sector [1]. Group 2: Violations Identified - Youce Investment submitted false information regarding its actual controller, misreporting the identity of the controller from March 2019 until the investigation date [3]. - The company misappropriated fund assets, with 9.55 billion yuan still unreturned as of July 2, 2024, after transferring funds from investment layer products to accounts outside the fund's custody [4]. - Youce Investment provided misleading information about the assets, returns, and net values of its funds, resulting in discrepancies in the reported data for 11 fund products [5]. Group 3: Individual Accountability - The actual controller, Huang Wei, was fined 9 million yuan and banned for life from the securities market for using private fund assets for personal gain [7]. - Liu Kaige, who was responsible for the management of Youce Investment, was fined 4.2 million yuan for failing to fulfill his duties [8]. - Jiao Jian, the former legal representative and general manager, was fined 1.05 million yuan for not exercising due diligence in her responsibilities [8].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed administrative penalties on Zhejiang Youce Investment Management Co., Ltd. for serious violations of private fund laws, including misappropriation of fund assets and submission of false information [1] Group 1: Regulatory Actions - Zhejiang Youce Investment was fined 21 million yuan, while three responsible individuals were fined a total of 14.25 million yuan [1] - The actual controller of Youce Investment has been banned from the securities market for life [1] - The China Securities Investment Fund Industry Association has revoked the management registration of Youce Investment [1] Group 2: Implications for the Industry - The misappropriation of private fund assets severely harms investors' legitimate rights and disrupts market order [1] - The CSRC is committed to enforcing the new "National Nine Articles" requirements to rigorously investigate various illegal activities in private funds [1] - The regulatory body aims to eliminate "bad apples" and purify the market environment to promote the healthy development of the industry [1]

Core Points - Zhejiang Youce Investment Management Co., Ltd. and its actual controller have been found guilty of misappropriating fund assets and submitting false information, leading to severe violations of private fund laws and regulations [2][3] - The China Securities Regulatory Commission (CSRC) has imposed a fine of 21 million yuan on Youce Investment and 14.25 million yuan on three responsible individuals, while the actual controller faces a lifetime ban from the securities market [2][3] - The China Securities Investment Fund Industry Association has simultaneously revoked Youce Investment's manager registration [5] Regulatory Actions - The CSRC emphasizes that the misappropriation of private fund assets severely harms investors' legitimate rights and disrupts market order, committing to strictly enforce the new "National Nine Articles" requirements to combat various illegal activities in private funds [6] - The CSRC aims to eliminate "bad apples" and purify the market environment to promote the healthy development of the industry [6] Related Incidents - In August 2024, reports circulated that over 1.2 billion yuan in deposits from three funds under Youce Investment had gone missing at Chang'an Bank, which Youce Investment attributed to the bank's violation of agreement terms [6] - Chang'an Bank later stated that the claims of missing deposits were severely inaccurate, asserting that the documents used in the reports were forged, and the bank has reported the matter to the police [6] - The controlling shareholder of Youce Investment has issued an apology to Chang'an Bank and reported potential internal management violations to the Beijing Public Security Bureau [6]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed administrative penalties on Zhejiang Youce Investment Management Co., Ltd. for serious violations of private fund laws and regulations, including misappropriation of fund assets and submission of false information [1] Group 1: Penalties and Actions - Zhejiang Youce Investment was fined 21 million yuan (approximately 3 million USD) by the Zhejiang Securities Regulatory Bureau [1] - Three responsible individuals were fined a total of 14.25 million yuan (approximately 2.1 million USD) [1] - The actual controller of Youce Investment has been banned from the securities market for life [1] Group 2: Regulatory Measures - The CSRC will transfer any criminal clues related to the violations to public security authorities, adhering to the principle of transferring all relevant issues [1] - The misappropriation of private fund assets severely harms investors' legitimate rights and disrupts market order [1] - The CSRC is committed to implementing the new "National Nine Articles" requirements to rigorously investigate various illegal activities in private funds, aiming to eliminate bad actors and purify the market environment [1]

Core Viewpoint - The Zhejiang Securities Regulatory Bureau has imposed a record fine of 35.25 million yuan on Youce Investment for serious violations, including the misappropriation of fund assets and submission of false information, leading to the lifetime market ban of its actual controller [1][4][6]. Summary by Sections Administrative Penalties - Youce Investment was fined 21 million yuan, while three responsible individuals were fined a total of 14.25 million yuan. The actual controller, Huang Wei, received a lifetime ban from the securities market [4][7][12]. Violations Identified - The investigation revealed that Youce Investment and its actual controller engaged in the misappropriation of fund assets and submitted false information, which severely violated private fund regulations [6][11]. - Specific violations included the misreporting of the actual controller's identity and the unauthorized transfer of 9.55 billion yuan from fund accounts to other accounts [11][12]. Regulatory Actions - The China Securities Investment Fund Industry Association has revoked Youce Investment's management registration, preventing it from conducting further private fund activities [18]. - The firm was also found to have mixed its operations with related entities and failed to meet investor risk assessment requirements [18].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed administrative penalties on Zhejiang Youce Investment Management Co., Ltd. and its responsible personnel for serious violations of private fund laws and regulations, including misappropriation of fund assets and submission of false information [3]. Group 1 - Zhejiang Youce Investment was fined 21 million yuan, while three responsible personnel were fined a total of 14.25 million yuan [3]. - The actual controller of Zhejiang Youce Investment has been banned from the securities market for life [3]. - The China Securities Investment Fund Industry Association has simultaneously revoked the management registration of Zhejiang Youce Investment [3]. Group 2 - The CSRC emphasizes that the misappropriation of private fund assets severely harms investors' legitimate rights and interests and disrupts market order [3]. - The CSRC will strictly implement the new "National Nine Articles" requirements to rigorously investigate various illegal activities in private funds, aiming to eliminate "bad apples" and purify the market environment [3].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed administrative penalties on Zhejiang Youce Investment Management Co., Ltd. for serious violations of private fund regulations, including misappropriation of fund assets and submission of false information [1] Group 1: Penalties and Actions - Zhejiang Youce Investment was fined 21 million yuan, while three responsible individuals were fined a total of 14.25 million yuan [1] - The actual controller of Youce Investment has been banned from the securities market for life [1] - The Asset Management Association of China has revoked the management registration of Youce Investment [1] Group 2: Regulatory Response - The CSRC emphasizes the importance of protecting investors' rights and maintaining market order, stating that misappropriation of private fund assets severely harms investor interests [1] - The regulatory body will strictly enforce the new "National Nine Articles" requirements to combat various illegal activities in the private fund sector [1] - The CSRC aims to eliminate "bad actors" and purify the market environment to promote healthy industry development [1]