dropstackballhelixcrash| Punishment! A private placement in Xiamen was disqualified as a manager for 7 violations; a private placement investment director was fined 6.53 million yuan for convergence transactions

Recently, local regulators and the China Foundation Association have announced penalties for violations of private equity funds, which can be called "day shifts".

On May 15, the China Foundation Association issued a decision on disciplinary action, revoking the registration qualification of Xiamen Jin Hengyu private equity fund. It is understood that the private equity firm violated as many as 7 facts.

A recent decision on administrative penalties issued by the Shenzhen Securities Regulatory Bureau exposed the fact that Li Lingyun, investment director of Zhejiang Yinuo Investment, was investigated for trading stocks using undisclosed information, and was eventually confiscated a total of 6.53 million.

A private placement in Xiamen was canceled as a manager for seven violations.

On May 15, a disciplinary decision of the China Foundation Association showed that it was decided to revoke the registration qualification of the manager of Xiamen Jin Hengyu Private Equity Fund Management Co., Ltd.

It is understood that the private equity firm has as many as 7 violations.

First of all, it is unfair to treat different investors of Jin Hengyu Liuyi products without disclosing the information of the fund without warning stop line to individual investors of Jin Hengyu Liuyi Fund. The company failed to redeem the fund for individual investors of Jin Hengyu Huoyi and Jin Hengyu Tianle No. 2 private equity investment funds in time.

Secondly, the seven funds managed by the company failed to value the fund in time in accordance with the contract and disclose the net value of the fund to investors.

The company's Tianle No. 2 fund did not disclose information to investors before the related party transaction.DropstackballhelixcrashWhen there is a change in the fund manager of the fund product, the investor is not informed according to the time limit stipulated in the fund contract, and the company does not strictly implement the investor appropriateness examination requirements; the individual investors of Jin Hengyu Liuyu No. 1 fund have not been examined whether they meet the standards of qualified investors.

In addition, the three funds managed by the company violate the relevant laws and regulations and the fund contract that "the total assets of the fund shall not exceed 200% of the net assets of the fund"; the information of the actual controller, employees and office address registered by the company with the China Foundation Association is not accurate; the actual controller of the company promises to protect capital and income to individual investors.

Xiamen Jin Hengyu Private Equity Fund put forward a defense opinion, but the China Foundation Association did not accept the above defense opinion, and the Association decided to cancel the registration of the manager of Xiamen Jin Hengyu Private Equity Fund.

CICC data show that the cancellation of Xiamen Jin Hengyu private equity fund is a total of 7 products that have been liquidated, and a total of 27 products have not been submitted for liquidation in the system at the time of cancellation.

The director of private equity converged the deal and was confiscated a total of 6.53 million yuan.

In addition to compliance issues, some private equity firms will also have some violations at the transaction level.

For example, a recent administrative penalty decision issued by the Shenzhen Securities Regulatory Bureau shows that Li Lingyun, investment director of Zhejiang Yinuo Investment Management Co., Ltd., uses undisclosed information to trade stocks for regulatory investigation. Shenzhen Securities Regulatory Bureau decided to order Li Lingyun to correct and confiscate the illegal income 326Dropstackballhelixcrash.50,000 yuan and a fine of 3.265 million yuan.

It is understood that from March 13, 2020 to July 20, 2021, Yinuo Investment has successively established Yinuo Qianjin No. 3, Yinuo Qianjin No. 5, Yinuo Qianjin No. 6, Yinuoyuan No. 1, and the fund manager is Yinuo Investment. Since January 2022, Yinuo Investment has agreed with Yuhui (Shanghai) Investment Management Co., Ltd., and Zhuji Tianyu Investment Management Co., Ltd., Yinuo Investment will manage Yuhui steady No. 1 private equity fund and Tianyu Star No. 1 private equity fund, and Yinuo Investment is actually responsible for investment decision-making and transaction operation.

Li Lingyun is one of the founding partners of Yinuo Investment, who actually performs the duties of Investment Director and is mainly responsible for the daily work of Yinuo Investment. On March 9, 2022, the Yinuo Investment decision Committee held a meeting, and after deliberation and vote by Li Lingyun and other three participating members, they unanimously agreed to buy 15 million yuan of Ke Lu Electronics (002121) shares. The transaction is made by Li Lingyun and his subordinate Xu before the opening of trading every day. According to the volume of the transaction, Xu alone or jointly with Li Lingyun completes the order. Li Lingyun is aware of the undisclosed information about the investment decisions and transactions of the above-mentioned six private equity fund products, such as Yinuojin No. 3, managed by one Nuo Investment.

Then, between March and May in 2022, Qiu