RMB Funds: An Updated Legal and Tax Wish List

Following the publication in the third quarter of 2009 of the article, RMB Funds—The Current State and Way Forward: A Legal and Tax Wish List, in the EMPEA Quarterly Review, there have been several noteworthy PRC regulatory developments concerning RMB private equity funds. In this article, John Fadely and Kevin Ban of EMPEA Premier member Weil, Gotshal & Manges LLP and John Gu of EMPEA member KPMG summarize those developments, as well as some of the ongoing impediments to the further development of RMB private equity funds and, specifically, to greater foreign participation in such funds.