网络销售基金法律监管制度研究

发布时间：2018-06-08 17:21

本文选题：网络销售基金 + 风险　；参考：《广东财经大学》2017年硕士论文

【摘要】：网络销售基金是指基金公司通过互联网平台为渠道销售基金产品,是传统基金与互联网技术创新结合的产物。其依托于第三方支付平台,利用云计算、大数据技术,为广大的平台用户提供了个性化的基金理财方案。网络销售基金是契约型基金其法律性质是信托法律关系,涉及的法律主体有投资者、基金管理人、基金托管人以及第三方互联网平台。余额宝是支付宝公司与天弘基金公司联合推出了首支网络销售货币基金,本质是让支付宝支付用户购买由天弘基金公司发行的增利宝基金产品。具有进场门槛低、流动性强和收益高的特点,产业理财流程大致包括注册、认证、申购、赎回几大步骤。但当前网络销售基金处于摸索前行阶段,除了给传统基金市场带来强烈的冲击外,自身也逐渐显露出各种风险,如市场风险、法律风险、网络安全风险及流动性风险等。这些风险给监管层带来巨大的挑战,诸多监管的问题也逐渐呈现。主要表现为信息披露制度不完善、网络销售基金的投资者权益缺乏全面保障甚至被洗钱犯罪所利用。我国在网络销售基金监管立法方面一直没有具有针对性的专门立法出台,监管的依据只能参考第三方支付机构监管法律和传统货币基金监管法律。网络销售基金发端于美国,发展得比较成熟,所以其法律监管也是经验最丰富的。针对我国网络销售基金监管制度的缺失,可借鉴其系统化的分层监管模式,明确相关机构的信息披露制度,健全网络金融信息安全保障机制,注重保障金融投资者的权益和预防洗钱犯罪。综上,本文提出完善网络销售基金法律监管制度的建议,要坚持兼顾效率与公平、适度、审慎、动态平衡的监管原则。从市场准入、信息披露制度、投资者保障措施、行业自律等多方面构建系统的网络销售基金的监管体系,指引并规范网络销售基金的持续健康成长。
[Abstract]:Network selling fund refers to fund company selling fund products through Internet platform, which is the combination of traditional fund and Internet technology innovation. Relying on the third party payment platform, using cloud computing and big data technology, it provides personalized fund financing scheme for the vast number of platform users. Network sales fund is a contractual fund whose legal nature is trust legal relationship, involving investors, fund managers, fund custodians and third party Internet platform. Yu'e Bao is the first online selling money fund launched jointly by Alipay and Tianhong Fund Company, essentially allowing Alipay payment users to purchase Zenglibao fund products issued by Tianhong Fund Company. With the characteristics of low entry threshold, strong liquidity and high income, the industrial financial process includes several steps of registration, certification, purchase and redemption. However, at present, the network sales fund is in the stage of groping forward. Besides bringing a strong impact to the traditional fund market, it has gradually revealed various risks, such as market risk, legal risk, network security risk and liquidity risk. These risks bring great challenges to the regulatory level, and many regulatory problems are gradually emerging. The main performance is that the information disclosure system is not perfect, the investors' rights and interests of the network sales fund are lack of comprehensive protection and even utilized by the crime of money laundering. There has been no specific legislation on the supervision of network sales fund in our country. The basis of supervision can only refer to the law of the third party payment agency and the traditional law of money fund supervision. Network sales funds originated in the United States, more mature, so its legal supervision is also the most experienced. In view of the lack of supervision system of network sales fund in our country, we can draw lessons from its systematic hierarchical supervision mode, clarify the information disclosure system of relevant institutions, and perfect the security guarantee mechanism of network financial information. Attention should be paid to protecting the rights and interests of financial investors and preventing money laundering. In summary, this paper puts forward the suggestion of perfecting the legal supervision system of network sales fund, and insists on the principle of taking into account efficiency and fairness, moderation, prudence and dynamic balance. From the aspects of market access, information disclosure system, investor protection measures, industry self-discipline and so on, a systematic supervision system of network sales funds is constructed to guide and standardize the sustained and healthy growth of network sales funds.
【学位授予单位】：广东财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287

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