论我国私募基金市场准入制度

On Market Access Systems of Private Equities

私募基金作为一种灵活的投资工具,我国法律对其规范相对较少。由于私募基金的高风险性及对金融市场的影响,理应建构合理的市场准入制度。其一,私募基金设立准入制度应该选择注册备案制;其二,确立投资者准入制度,包括合格投资者的法律界定和投资者人数的限制;其三,对私募基金的发行方式以及担任私募基金管理人的资格也应该有明确限制。

Private equity is a flexible implement of investment,which is hardly regulated in Chinese legal systems.But because of its higher risk and the impact on the financial market,the authorities should establish a market access system.Firstly,a registration system should be put in place for private equity funds.Secondly,an access system should be established for investors,which include the rules about accredited investors and restriction of the number of investors Thirdly,restrictions must be imposed on issuance of private equity funds and the qualification of the managers.