China-Singapore Jingwei, January 31 -- According to the disciplinary actions recently issued by the China Investment Industry Association (hereinafter referred to as the "AMAC"), the AMAC cancelled the membership of Hualian Huiyin Equity Investment Management (Hengqin) and revoked its manager registration.
According to the disciplinary decision with the document number of AMAC Punishment No. 2023 396, after investigation, Hualian Huiyin has the following violations:
First, the company indirectly promises to investors to guarantee principal and returns, and pays fixed income to investors on a regular basis. The above behavior violates the provisions of Article 15 of the Measures for the Supervision of Private Placements.
Second, the company failed to disclose to investors the use of ** property to engage in material related party transactions in accordance with the risk disclosure of the "** contract". The above acts violated Article 24 of the Measures for the Supervision of Private Placements and Article 18 of the Administrative Measures for the Information Disclosure of Private Investments.
Third, the company did not disclose to investors that there were significant risks in the underlying assets of the product during the irregular open offering of Hualian Huiyin Stable No. 6 private equity investment ** product. The above behavior violates Article 24 of the Measures for the Supervision of Private Placements and Article 1 (9) of the Instructions for the Filing of Private Investments (2019).
Fourth, the company failed to disclose periodic reports to investors as agreed in the contract. The above acts violated the provisions of Articles 3, 16 and 17 of the Information Disclosure Measures.
Fifth, the company failed to update the investor information of "Hilong Di Tiantong Enterprise Management Center (Limited Partnership)" in a timely manner. The above acts violated the provisions of Article 20 of the Measures for the Registration and Filing of Private Investment Managers.
Sixth, the company does not have a person in charge of compliance and risk control. According to the employee roster and ** product operation materials provided by Hualian Huiyin, Zhou Ping, the person in charge of compliance and risk control, has left on February 5, 2021, and the company has not hired a new person in charge of compliance and risk control. The above behavior violates Article 12 of the Guidelines for Internal Control of Private Investment Managers.
In view of the above basic facts, circumstances and trial circumstances, in accordance with the provisions of Article 111, Paragraph 3 of the ** Law, Article 29 of the Measures for the Supervision of Private Placement, Article 6, Paragraph 3 of the Articles of Association, Article 29 of the Measures for the Administration of Members, and Article 5 of the Measures for the Implementation of Disciplinary Actions (Trial), AMAC decided to cancel the membership of Hualian Huiyin and revoke its registration as a manager.
According to the disciplinary decision No. 2023 No. 397 issued by the AMAC, Shen Jun is registered as the legal representative and general manager of Hualian Huiyin. Shen Jun, as a senior manager registered with AMAC, should be held accountable for the organization's violations during his tenure. AMAC decided to publicly condemn Shen Jun.
The document number is AMAC Punishment No. 2023 No. 398 Disciplinary Punishment Decision shows that Lilitao has been investigated as an employee of Hualian Huiyin. According to the decision on administrative supervision measures issued by the Guangdong Securities Regulatory Bureau, Li Litao, as a private equity manager, has illegally pooled other people's funds to purchase private placement products. The AMAC decided to publicly condemn Lilitao.
According to the company's information, Hualian Huiyin is jointly initiated and established by Guangzhou Huiyin Tianyue Equity Investment Management and Hualian Hairong Asset Management (Hengqin). (Zhongxin Jingwei app).
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