General Office of the State Council: Severely crack down on illegal fundraising, embezzlement and misappropriation, self-financing and self-use, transfer of benefits, illegal cross-border flow of funds, and private equity funds participating in illegal fundraising.
China's State Council has issued new guidelines to strengthen the regulation and risk prevention of private investment funds. The directive emphasizes a strict crackdown on illegal activities such as irregular fundraising, embezzlement, self-dealing, profit transfer, illegal cross-border capital flows, and private funds participating in illegal fundraising. It also outlines enhanced collaboration between public security organs and securities regulatory authorities to combat these offenses, particularly for significant cross-regional cases. AI