China’s AMAC clamps down on domestic private funds
The Asset Management Association of China (AMAC) – an industry body set up by the securities regulator – has cancelled the registrations of more than 10,000 domestic private fund firms in the past six months as part of ongoing efforts to combat illegal fundraising activity.
These firms manage a variety of different funds, including "sunshine funds" - pools of privately-raised capital for investment in public securities - traditional PE and VC funds, and specialist vehicles...
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