According to the decision on administrative supervision measures  No. 38 issued by Fujian regulatory bureau of China Securities Regulatory Commission, Fujian Strait cultural industry Equity Investment Management Co., Ltd. (hereinafter referred to as: equity investment in cross-strait cultural industry) has the following problems: Zhang Mou, the former head of compliance risk control of the company, resigned on August 31, 2019, but failed to comply with the China Securities Investment Fund Industry Association（ It is in violation of paragraph 1 of Article 25 of the Interim Measures for the supervision and administration of private investment funds (Order No. 105 of the CSRC, hereinafter referred to as the Interim Measures). In view of the above situation, in accordance with the provisions of Article 33 of the interim measures, Fujian regulatory bureau decided to take administrative supervision measures to order the correction of equity investment in the cross-strait cultural industry. < / P > < p > according to the data, the equity investment in the cross-strait cultural industry was established on March 28, 2013, with a registered capital of 10 million yuan. The majority shareholder of the company is Cinda International Capital Management Limited (British Virgin Islands), with a shareholding ratio of 55%. In addition, Fujian investment and Development Group Co., Ltd., Taiwan Strait publishing and Distribution Group Co., Ltd. and Fujian newspaper Investment Holding Co., Ltd. hold 15% shares respectively. < / P > < p > < p > Article 25 of the Interim Measures: the private fund manager shall, in accordance with the provisions of the fund industry association, timely fill in and regularly update the relevant information of the manager and its employees, the investment operation and leverage utilization of the managed private fund, so as to ensure the truthfulness, accuracy and completeness of the reported contents. In case of any major event, it shall report to the fund industry association within 10 working days. The private fund manager shall, within 4 months after the end of each accounting year, submit to the fund industry association the annual financial report audited by an accounting firm and the basic situation of the annual investment and operation of the private fund under its management. < p > < p > < p > Article 33 of the Interim Measures: if private fund managers, private fund custodians, private fund sales agencies and other private placement service institutions and their employees violate laws, administrative regulations and the provisions of these measures, the CSRC and its local offices may take administrative supervision measures such as ordering them to correct, conducting regulatory talks, issuing warning letters and publicly condemning them. < p > < p > Mr. Zhang, the former head of compliance risk control of your company, resigned on August 31, 2019. Your company failed to timely fill in and regularly update the relevant information of private fund managers in accordance with the provisions of China Securities Investment Fund Association (hereinafter referred to as the Fund Industry Association), which violates the Interim Measures for the supervision and administration of privately raised investment funds (CSRC Order No. 105, hereinafter referred to as the “Interim Measures”) The first paragraph of Article 25. In view of the above situation, in accordance with the provisions of Article 33 of the interim measures, our bureau has decided to take administrative supervision measures to order your company to correct. Your company should carry out rectification in accordance with the requirements of relevant laws, administrative regulations and the provisions of China Securities Regulatory Commission, and further regulate private fund activities. Your company shall complete the rectification within one month from the date of receiving this decision, and submit a written report on the implementation of the rectification work to our bureau, and our bureau will organize inspection and acceptance according to the situation. < / P > < p > if you are not satisfied with the administrative supervision measures, you may file an application for administrative reconsideration to the CSRC within 60 days from the date of receiving this decision, or file a lawsuit with the people’s court with jurisdiction within 6 months from the date of receiving this decision. During the period of reconsideration and litigation, the above administrative supervision measures shall not be suspended. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. 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