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Shanghai Yinji Asset Management receives a warning letter regarding imprudent investment decisions and other issues
Blue Whale News, April 7 — Recently, the Shanghai Regulatory Bureau of the China Securities Regulatory Commission issued an Administrative Regulatory Decision Letter, targeting Shanghai Yinjie Asset Management Co., Ltd. and Jia Yingchun.
The decision letter states that Shanghai Yinjie Asset Management Co., Ltd., in the process of conducting private fund business, has the following facts: investment decisions are not prudent, the obligation of diligent care was not fulfilled, and it violated the provisions of the “Interim Measures for the Supervision and Administration of Private Investment Funds.”
The company’s then legal representative, Jia Yingchun, promised investors capital preservation and returns, which does not comply with the provisions of the “Several Regulations on Strengthening the Supervision of Private Investment Funds” and the “Interim Measures.”
In response, the Shanghai Regulatory Bureau of the China Securities Regulatory Commission has decided to take administrative regulatory measures by issuing a warning letter to Shanghai Yinjie Asset Management Co., Ltd. and Jia Yingchun.