mostpromisinggamingcrypto| Baishixin (Shanghai) Equity Investment Fund Management Co., Ltd.: Failure to cooperate with self-discipline inspection and revoked manager registration

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April 16, 2024MostpromisinggamingcryptoThe China Securities Investment Fund Industry Association announced that Baxin (Shanghai) Equity Investment Fund Management Co., Ltd. was cancelled and revoked because it did not cooperate with self-discipline inspection and did not meet the registration requirements of private equity fund managers.

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[China Securities Investment Fund Industry Association announces cancellation of registration of Benson Manager] on April 16, 2024, the China Securities Investment Fund Industry Association made a decision on Bai Shixin (Shanghai) Equity Investment Fund Management Co., Ltd. (hereinafter referred to as "Bai Shixin").MostpromisinggamingcryptoA severe penalty decision was made to cancel its membership and revoke the registration of the administrator, which will continue during the review period. It is understood that during the period from February to March 2023, the Association sent it two verification notices, and the information provided by Baxter is neither complete nor accurate. In addition, the association contacted the senior management of Benson for many times, but failed to get effective feedback. In view of this, the association found that Benson did not cooperate with the self-discipline inspection. At the same time, the association also pointed out that Bai Shixin does not meet the registration requirements of private equity fund managers, there are no on-the-job employees, no business premises, do not have the normal business development ability. In this regard, in accordance with the Fund Law, the measures for the Supervision of Private funds, the articles of Association of China Securities Investment Fund Industry Association, the measures for the Administration of members of China Securities Investment Fund Industry Association, and the measures for the implementation of self-discipline and Disciplinary measures of China Securities Investment Fund Industry Association and other relevant laws and regulations and self-discipline rules, made the above punishment decision. According to the relevant provisions of the regulations on the Supervision and Administration of Private Investment funds and the measures for the Registration and filing of Private Investment funds, after the registration of the manager has been revoked, it will no longer be possible to use the words "fund", "fund management" or similar names for private equity fund activities. In addition, BSX is not allowed to add new investors and fund size, no new investment. If there is a private equity fund product under management, the private equity fund property shall be liquidated in time or the management responsibility of the private equity fund shall be transferred in accordance with the laws and regulations, the association's self-discipline rules and the fund contract.

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