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新《基金法》于2012年12月28日经十一届全国人大常委会第三十次会议审议通过,已于2013年6月1日起实施。新《基金法》明确了“公开募集”与“非公开募集”的界限,将私募基金纳入规制范围,并统一了金融机构私募基金业务的执业规则和监管要求。调整范围的扩大,适应了资产管理行业发展的实践需要,有助于规范私募基金运作。修订过程中,法律的调整范围一直是本次修法的重点问题,也引起了广泛的争议,本文拟结合相关制度修订的背景、主要内容和争议情况,就新规定的理解和适用进行初步探讨。
The new “Fund Law” was reviewed and approved by the 30th Session of the Eleventh National People’s Congress on December 28, 2012 and came into effect on June 1, 2013. The new “Fund Law” defines the boundaries between “public offering” and “non-public offering,” and includes private placement funds in the regulatory framework. It also harmonizes the rules and regulatory requirements for the practice of private placement funds in financial institutions. The expansion of adjustment range has adapted to the practical needs of the development of the asset management industry and will help regulate the operation of private-equity funds. In the revision process, the scope of the law adjustment has always been the key issue of this revision and has also caused widespread controversy. This paper attempts to make a preliminary discussion on the understanding and application of the new provisions in the light of the background, main content and controversies of the revision of the relevant rules.