我国证券投资者保护基金研究

发布时间：2018-06-08 06:43

本文选题：证券投资者保护基金 + 投资者保护　；参考：《中国社会科学院研究生院》2015年硕士论文

【摘要】：自美国成立投资者保护基金以来,包括德国、日本、我国台湾、香港等境外先进资本市场纷纷建立保护基金制度以保护证券市场的投资者。2005年,《证券投资者保护基金管理办法》发布,在此基础上,我国证券投资者保护基金制度的正式建立,其对于推进证券市场的健康规范发展,保护投资者的权益发挥着十分重要的作用。因此,本文选择了我国证券市场中的投资者保护基金制度来作为研究、探讨的对象,分析其运行近十年后暴露出的主要问题,参照境外先进市场的经验并结合我国实际情况,提出完善建议。本文正文共分以下四部分内容:第一部分,是对证券投资者保护基金目前基本情况进行了概述,介绍我国证券投资者保护基金制度产生的境内、境外背景,对我国的证券投资者保护基金的运作模式进行了阐述,为下文进一步展开投资者保护基金具体制度论述做出铺垫。第二部分,是对证券投资者保护基金现阶段法律法规情况进行分析,针对保护基金相关法规较为分散、立法层级较低的情况,建议尽快发布《证券投资者保护基金管理条例》,并建议应进一步制定一部统一的证券投资者保护法规。第三部分,是对证券投资者保护基金的公司治理结构进行分析,认为目前保护基金由政府主导的董事会治理模式已不能够适应当前证券市场的新情况,提出保护基金的董事应增加证券经营机构代表、社会公众代表的建议,并建议引入董事任期制度。第四部分,是对证券投资者保护基金的赔偿对象、赔偿幅度与范围进行分析,对于当前赔偿对象制度规定不完整的情况提出应进一步区分个人投资者和机构投资者、排除利害关系人;对于赔偿标准缺乏上限的问题,建议采取区分不同情况,对个人债权分段赔偿并设定赔偿上限等措施;对于赔偿范围不明确的问题,提出保护基金在赔偿时应明确具体予以排除的范围的建议。
[Abstract]:Since the establishment of investor protection funds in the United States, including Germany, Japan and Taiwan, Overseas advanced capital markets such as Hong Kong have set up a protection fund system to protect investors in the securities market. In 2005, the Securities investors Protection Fund Management measures were issued. On the basis of this, China's securities investor protection fund system was formally established. It plays an important role in promoting the healthy and normative development of the securities market and protecting the rights and interests of investors. Therefore, this paper chooses the investor protection fund system in the securities market of our country as the research object, analyzes the main problems exposed after its operation for nearly ten years, referring to the experience of the overseas advanced market and combining the actual situation of our country. Put forward the perfect suggestion. The main body of this paper is divided into four parts: the first part is an overview of the current basic situation of the securities investor protection fund, introducing the domestic and overseas background of the securities investor protection fund system in China. This paper expounds the operation mode of the securities investor protection fund in our country, and lays the groundwork for further discussing the specific system of the investor protection fund. The second part is to analyze the current situation of the securities investor protection fund laws and regulations, aiming at the situation that the relevant laws and regulations of the protection fund are scattered and the legislative level is lower. It is suggested that the Regulation on the Management of Securities Investor Protection funds be promulgated as soon as possible, and that a uniform regulation on the protection of securities investors should be further formulated. The third part is an analysis of the corporate governance structure of the securities investor protection fund. It is concluded that the current governance model of the board of directors, which is dominated by the government, can no longer adapt to the new situation of the current securities market. This paper puts forward the suggestion that the directors of the protection fund should increase the representatives of the securities management institutions and the public, and that the tenure of directors should be introduced. The fourth part is to analyze the compensation object, the compensation range and the scope of the securities investor protection fund, and to propose that the individual investor and the institutional investor should be further distinguished for the incomplete provisions of the current compensation object system. Excluding interested parties; regarding the lack of a cap on the standard of compensation, it is recommended to take measures such as distinguishing different circumstances, piecemeal compensation of individual claims and setting a maximum compensation limit; for cases where the scope of compensation is not clear, Put forward protection fund in compensation should be specifically excluded from the scope of the proposal.
【学位授予单位】：中国社会科学院研究生院
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.287

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