The Asset Management Association of China ("AMAC") has recently issued the List of Conditions for the Application of Simplified Record-filing and Verification Procedures to Private Collective Asset Management Schemes Operated by Securities and Futures Operators (the "List of Conditions").
The List of Conditions states that according to the provisions of Article 21 of the Administrative Measures for Record-filing of Private Asset Management Schemes of Securities and Futures Operators (for Trial Implementation), the simplified record-filing and verification procedures may be applicable to the private collective asset management schemes that satisfy seven requirements that, for example, "the product's term is longer than three months but shorter than 10 years"; "the product has simple and clear structure, not a structured, FOF or MOM product, and is operated without investment advisors"; "the scope of investment is definite and all investment is made into standard assets and irrelevant to any employee stock ownership plan"; and "investment is made in domestic targeted assets and does not involve overseas investment through qualified domestic institutional investors (QDII), qualified domestic limited partners (QDLP) and qualified domestic investment enterprises (QDIE)". The List of Conditions will be adjusted from time to time in line with the requirements of regulatory policies and actual situations.