On December 13, the Qingdao Securities Regulatory Bureau announced that after investigation, Qingdao Hai Si Quan Zong Private Fund Management Co., Ltd. (hereinafter referred to as "Hai Si Quan Zong Private Fund") provided loans using private fund assets, violating regulations. Song Xiuhong was the legal representative and chairman of Hai Si Quan Zong Private Fund at the time, Liu Jialiang is the current legal representative and chairman of Hai Si Quan Zong Private Fund, and Wang Chaohui has served as the general manager since the establishment of Hai Si Quan Zong Private Fund. During their tenure, they failed to diligently perform their duties and strictly comply with laws and regulations, bearing responsibility for the aforementioned actions. The Qingdao Securities Regulatory Bureau has taken administrative regulatory measures against Hai Si Quan Zong Private Fund, Song Xiuhong, Liu Jialiang, and Wang Chaohui by issuing a warning letter.
因以私募基金财产对外提供借款，海丝泉宗私募及责任人被监管出具警示函
Due to the provision of loans using private equity fund assets, Hai Si Quan Zong Private Fund and the responsible persons have received a warning letter from the regulatory authority.
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