China's Securities Regulator to Clear 1,805 Non-Compliant Private Fund Managers Through 2026

According to the China Securities Regulatory Commission (CSRC), the regulator announced it will decisively clear private fund management companies that fail to meet regulatory requirements. The move aims to prevent unlicensed entities from operating as private funds and strengthen risk assessment across institutional frameworks.

From 2023 through the first quarter of 2026, the CSRC has taken administrative measures against 1,805 private fund managers and related entities, with 97 receiving formal penalties. The regulator transferred 86 suspected criminal cases to public security authorities. Meanwhile, the China Securities Association canceled registrations for 5,444 private fund managers.