CSRC Seeks Comments on Measures for the Supervision and Administration of Private Investment Fundraising

The China Securities Regulatory Commission (CSRC) has recently drafted the Measures for the Supervision and Administration of Private Investment Fundraising (Draft for Comment) (the "Draft") for public consultation by October 4, 2026.

The Draft, consisting of 45 articles in seven chapters, mainly involves: (1) clarifying the basic principle that "sellers shall perform their due diligence obligations and buyers shall bear their own risks", specifying fundraising methods, and refining rules on prohibited conduct; (2) improving the criteria for determining qualified investors, which cover their asset size, income level, and investment experience, and strengthening look-through regulatory requirements; (3) specifying the fundraising process, fundraising documents, and regulatory requirements, and reinforcing the suitability management and risk disclosure obligations of private investment fund managers and private investment fund sales institutions; (4) improving mechanisms for ensuring the security of funds raised, specifying requirements for dedicated fundraising and settlement accounts and institutions supervising fundraising and settlement funds, and strengthening requirements for private investment fund managers in developing internal control systems; and (5) setting forth supervision and administration requirements, as well as legal liability.



(Source: https://www.csrc.gov.cn/csrc/c101981/c7656693/content.shtml)

Note: The link to the Chinese official website of the document is for your reference.