On March 5, the Asset Management Association of China (the “AMAC”) promulgated on its official website the Q%26As on Relevant Issues concerning the Registration of Private Investment Fund Managers and Filing of Private Funds (Part I) (the “Q%26As”). It provides answers to some frequently asked questions regarding the implementation of the Measures for the Registration of Private Investment Fund Managers and Filing of Private Investment Funds (for Trial Implementation) (the “Measures”) which was promulgated by the AMAC on January 17, 2014. The AMAC indicated in the Q%26As that private investment fund managers (“Fund Managers”) that have been established shall apply for registration (“Registration”) and make filings for the private investment funds (“Private Funds”) under their management (“Filing”) through the Registration and Filing system (“System”) of the AMAC before April 30, 2014. On March 7, in light of this matter, the China Securities Regulatory Commission (the “CSRC”) expressed its support of the AMAC’s requirement for registration in its weekly press conference and indicated that all types of Fund Managers and Private Funds are required to perform Registration and Filing formalities with the AMAC and those who fail to do so may not engage in the management activities of Private Funds. The CSRC also indicated that it will take regulatory actions against Fund Managers failing to complete the Registration before April 30, 2014.
