互联网货币基金法律监管研究

发布时间：2018-05-16 00:20

本文选题：互联网货币基金 + 第三方支付　；参考：《华中师范大学》2015年硕士论文

【摘要】：货币基金在我国发展已有十余年历史,却一直处于不愠不火的发展状态；但互联网货币基金的出世使货币基金受到了广泛的关注和参与,货币基金所占市场份额大幅提高。互联网货币基金迎合了“普惠金融”的国际需求和趋势,为国内的金融市场注入了一股新风,然而,如何使其健康的发展以持续服务于金融经济,如何使其真正发挥现金管理和增值理财的功能以保障和维护投资者权益,我认为解决这些问题就必须将互联网货币基金置于健全、完善的法律监管中。本文共分为四个部分：第一部分,对互联网货币基金进行界定。俗话说,“知其然,知其所以然”,本文是对互联网货币基金法律监管的研究,首先要弄清楚什么是互联网货币基金,它的发展历史,具有什么性质,具有哪些特征。互联网货币基金,顾名思义就是基金公司与互联网公司(多数为网上第三方支付平台)联手推出的货币基金,以由天弘基金管理公司和第三方支付机构支付宝公司合作推出的“余额宝”理财增值服务为代表。其本质还是货币基金,金融属性是其天然属性,但是由于搭载“互联网”它又具备电商属性和社交属性。其特征包括产品定位的特殊性、产品功能扩大化、交易成本低、预期收益较高和投资集中于银行存款。这部分内容回答了监管什么的问题。第二部分,对互联网货币基金法律监管之必要性和特殊性进行剖析。必要性体现在四个方面,即：一、货币基金自身的风险,包括市场风险、本金损失风险与流动性风险等,这些风险都是互联网货币基金自身无法避免的；二、操作风险,主要是信息披露不能保证真实性、准确性和完整性而引发的；三、互联网安全风险,主要是网络病毒和网络突发事件对互联网安全的侵扰；四、存在着法律风险主要是互联网货币基金缺乏法律法规的明确规定。特殊性主要有两方面的考量,一是不同于传统货币基金的监管,在监管思路上应该有所改变,在监管重点上应该有所转移；二是有赖于网络技术的健全。这部分内容回答了为什么监管的问题。第三部分,确定互联网货币基金法律监管的原则。在确立法律依据时,本文以法律依据、政策依据和现实依据为支撑,以要具有根本性与普遍性、高度权威性和规范性为标准,确立了五项监管原则,分别是维护投资者合法权益的原则、鼓励创新监管原则、市场导向性监管原则、审慎监管原则、动态监管原则。这部分回答的是遵循什么原则监管的问题。第四部分,对互联网货币基金监管制度的具体构建给出了一些建议。首先,分别对美国、英国、日本的互联网货币基金法律监管制度选择进行分析,以作为我国构建相应监管体制的参考和借鉴；其次,对我国互联网货币基金监管给出了以下建议：一是形成完整的货币基金监管法律链条；二是建立市场准入和市场退出机制；三是构建完善的互联网货币基金信息披露制度；四是强化网络监管机制；五是加强国内与国际组织的协作监管机制。这部分是解决如何监管的问题。
[Abstract]:There have been more than ten years of history in China ' s development , but it has been in the state of development in China ;
This paper is divided into four parts : the particularity of product positioning , the expansion of product function , low transaction cost , higher expected return and investment concentration in bank deposit .
II . Operational risk , mainly due to the fact that the disclosure of information cannot guarantee the authenticity , accuracy and completeness ;
III . Internet security risk , mainly network virus and network emergency response to Internet security ;
4 . The legal risk exists mainly because of the lack of laws and regulations of the Internet monetary fund . There are two main considerations , one is different from the traditional monetary fund supervision , should be changed in the thought of supervision , should be shifted in the supervision focus ;
Second , it depends on the sound of the network technology . This part answers the question of the regulation . In the third part , the principles of the legal supervision of the Internet monetary fund are established . In establishing the legal basis , this paper sets up the five supervision principles , which are the principle of safeguarding the legitimate rights and interests of investors , encouraging the principles of supervision of innovation , the principle of market guidance supervision , the principle of prudent supervision and the principle of dynamic supervision .
Secondly , the following suggestions are given to the supervision of China ' s Internet monetary fund : Firstly , it forms a complete monetary fund supervision legal chain ;
Second , the establishment of market access and market exit mechanism ;
The third is to construct perfect information disclosure system of internet money fund ;
Fourth , strengthen the network supervision mechanism ;
The fifth is to strengthen the coordination and supervision mechanism of domestic and international organizations . This part is to solve the problem of how to regulate .

【学位授予单位】：华中师范大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.28

【参考文献】