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Chinese PE firm has certificate revoked by Asset Management Association

BritCham / CBBC
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In December 2014, the Asset Management Association of China (AMAC) announced on its website a decision to revoke the Registration Certificate of Private Equity Fund Managers of Woods Fund, a Chinese PE firm, and to put the controller and legal representative of Woods Fund onto AMAC’s blacklist.
 
As explained by AMAC in its announcement, Woods Fund failed to truthfully register its company information and did not file significant changes with AMAC, which violated the Measures for the Registration of Private Equity Fund Managers and the Record-filing of Funds (for Trial Implementation) released by AMAC in January 2014.
 
This conduct has been seen by market players as a strong signal of AMAC’s commitment to improving industry standards and further regulating the Chinese PE market, especially the PE self-reporting mechanism.
 
The original announcement is attached below and further information can be found on AMAC's website or in China Daily (all in Chinese).

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