Article 37 is the corresponding punishment: if a fund-raising institution violates the provisions of Articles 16, 21, 24, 25, 27 and 28 of these Measures in the process of conducting private equity fund-raising business, China Fund Industry Association may take disciplinary measures such as blacklisting, public condemnation and cancellation of manager registration against the fund-raising institution according to the seriousness of the case; Disciplinary actions such as industry condemnation, blacklisting, public condemnation and disqualification of the fund were taken against the relevant staff. If the circumstances are serious, it shall be transferred to the China Securities Regulatory Commission for handling.