China Justice Observer

中司观察

EnglishArabicChinese (Simplified)DutchFrenchGermanHindiItalianJapaneseKoreanPortugueseRussianSpanishSwedishHebrewIndonesianVietnameseThaiTurkishMalay

China Releases Typical Cases of Private Fund Crimes

Thu, 09 May 2024
Categories: China Legal Trends

avatar

 

On 20 Dec. 2023, China’s Supreme People’s Court (SPC) and Supreme People’s Procuratorate (SPP) jointly released “Typical Cases of Lawfully and Strictly Combating Private Fund Crimes” (依法从严打击私募基金犯罪典型案例).

This set consists of five typical cases, covering crimes such as illegal absorption of public deposits, fundraising fraud, embezzlement of funds, duty encroachment, and accepting bribes by non-state officials.

Through these typical cases, the SPC and SPP hope to provide uniform standards for the handling of crimes involving private funds for courts and procuratorates at all levels nationwide. They aim to prevent and resolve major risks and maintain financial security by cracking down on criminal activities conducted under the guise of “private fund” and crimes committed by private fund managers, such as misappropriation and embezzlement of private fund assets.

 

 

Photo by Chris Nagahama on Unsplash

 

Contributors: CJO Staff Contributors Team

Save as PDF

You might also like

China's Clean Energy Progress Report (2024)

China's 2024 white paper titled “China’s Energy Transition” shows clean energy now makes up 58.2% of installed power capacity, with wind and solar increasing tenfold over a decade, and clean energy consumption rising from 15.5% to 26.4% of total energy use.

SPC Releases Typical Cases on Foreign Law Ascertainment

In July 2024, China's Supreme People's Court (SPC) issued its first batch of typical cases to illustrate the application of foreign laws, aiming to enhance the judiciary's understanding of its 2023 judicial interpretation on ascertainment of foreign law.

China Updates Regulation for State Secrets Law

In June 2024, China revised the implementing regulation for its State Secrets Law, enhancing classification procedures, personnel confidentiality management, and secrecy inspection standards.

Chinese Court Refuses to Recognize Russian Judgment Due to Due Process

In 2020, a local Chinese court in Beijing ruled against the recognition and enforcement of a Russian monetary judgment on the grounds that the party in absentia had not been properly summoned (the case of Chepetsky Mechanical Plant Joint-Stock Company (2020) Jing 04 Xie Wai Ren No. 2).

China's New Company Law: Enforcing Paid-in Capital Rules

China's revised Company Law introduces a paid-in capital system, requiring shareholders to fully contribute their subscribed capital within five years, with a three-year transition period for existing companies to adjust their capital contributions.

China Issues Regulation on Rare Earth Administration

In April 2024, China introduced its first comprehensive regulation on rare earth management, addressing production, circulation, and reserves to ensure a regulated market and sustainable industry development.

China Revises Frontier Health and Quarantine Law

In June 2024, China revised its Frontier Health and Quarantine Law (国境卫生检疫法) to enhance measures against infectious disease transmission, including new quarantine protocols and medical priority for affected individuals.

SPC Releases Typical Cases of Financial Fraud

In June 2024, China’s Supreme People’s Court (SPC) released five typical cases of financial fraud, aiming to strengthen the punishment of financial fraud, protect the legitimate rights and interests of investors, and promote the sound development of the industry.

China Issues New Regulations to Combat Cyber Violence

In June 2024, China's Cyberspace Administration, along with several ministries, issued new regulations to strengthen the governance of cyber violence, focusing on content management, user protection, and legal accountability.