Han Kun Successfully Obtained AMAC Approval of Legal Opinions for over 80 PE Fund Managers
2016-12-20
Since the Asset Management Association of China ("AMAC") promulgation of the Announcement on Matters concerning Further Regulating the Registration of Privately Fund Managers (the "Announcement") on February 5, 2016, Han Kun had been engaged by over a hundred private fund managers ("PF Managers") to issue legal opinions for their AMAC registration. So far, over 80 of those PE Managers have been successfully approved by the AMAC after its review. In addition, Han Kun had also issued dozens of specific legal opinions for significant changes with respect to registered PF Managers and successfully obtained approval by AMAC.
To protect the legal rights and interests of investors and facilitate the healthy growth of the private equity industry, in addition to the Announcement, AMAC also promulgated a series of regulations related to PF Managers registration and filing this year, including the Guidelines for Private Fund Managers Internal Control, Management Measures for Private Funds Information Disclosure, Guidelines of Content and Format for Private Funds Information Disclosure (No. 1, 2), Measures for Administration of Private Fundraising Activities, Guidelines for Private Funds Contracts (No.1-3) and Q&A related to Registrations and Filings of Private Funds (No.8-12). The Investment Funds team at Han Kun, which has accumulated rich experience in the practice of assisting in PF Managers registrations and filings, has thoroughly studied all AMAC documents and related requirements. To issue legal opinions for the PF Managers, the team conducted a comprehensive and thorough due diligence investigation on the PF Managers by prudently checking their compliance status in various aspects, provided custom-tailored advice on modification and improvement to the PF Managers and assisted them in the compliance with relevant laws and regulations and requirements of AMAC. Based upon the result of due diligence and the improvements made by the PF Managers, the Han Kun team produced the legal opinions, which were submitted to and approved by AMAC after a thorough review and sign-off by the Risk Control Committee at Han Kun.
The award-winning Investment Funds team at Han Kun is composed of over twenty attorneys in Beijing, Shanghai and Shenzhen offices. With a focus on the private equity industry for over a decade, the team has represented over a hundred PF Managers in setting up over 600 funds of various kinds within and outside of China and has been consistently recognized as market leader in the investment funds area in China by global legal directories such as Chambers and IFLR.
