Answer: D

According to Article 95 of the "Securities Investment Fund Law of the People's Republic of China": After the non-publicly raised funds have been raised, the fund manager shall report to the fund industry Association filing. For funds whose total amount of funds raised or the number of fund share holders reaches the prescribed standards, the fund industry association shall report to the securities regulatory authority of the State Council.

Securities investment in non-publicly raised fund assets includes the purchase and sale of publicly issued shares, bonds, and fund shares of joint-stock companies, as well as other securities and their derivatives specified by the securities regulatory authority of the State Council.

Private equity funds have three organizational forms: corporate, partnership, and contractual, so item D is wrong.