论私募基金的刑事风险预防

On the Prevention of Criminal Risks of Private Funds

摘要: 私募基金的治理模式以自律为主，监管相对公募基金较为薄弱，在其成立，募集，运作以及退出各个阶段存在诸多刑事风险，比如公开宣传、虚假宣传、向不特定投资者募集资金等一不小心就可能触犯刑法，被认定为非法吸收公众存款罪、集资诈骗罪、非法经营罪、利用未公开信息交易罪等刑事犯罪，私募基金管理机构应当准确把握私募基金各阶段的具体刑事风险，并在此基础上提高风险防控意识，加强企业合规经营管理，加强企业的内部监督以避免刑事风险的发生。

Abstract: The gov-ernance model of private funds is mainly self-disciplined, the supervision is relatively weak com-pared to public funds, and there are many criminal risks at all stages of its establishment, fund-raising, operation and withdrawal, such as public publicity, false publicity, raising funds from un-specified investors, etc., which may violate the criminal law if you are not careful, and are identified as criminal crimes such as illegally absorbing public deposits, fund-raising fraud, illegal business operations, and the crime of using undisclosed information to trade, and the private fund manage-ment institution should accurately grasp the specific criminal risks of each stage of the private fund. On this basis, we will improve the awareness of risk prevention and control, strengthen the com-pliance management of enterprises, and strengthen the internal supervision of enterprises to avoid the occurrence of criminal risks.