融资融券试点的制度安排和制度完善——基于投资者权益保护视角的分析

发布时间：2018-02-21 10:50

本文关键词： 融资融券投资者权益保护转融通　出处：《证券市场导报》2011年01期 　论文类型：期刊论文

【摘要】：融资融券交易试点正面临制度完善的重大课题。本文从投资者权益保护的视角对融资融券交易试点制度进行了案例分析,研究我国融资融券业务试点的制度安排、制度缺陷和政策建议。本文率先尝试评价了融资融券业务试点的制度体系,发现其制度机制基本保障了投资者融资融券交易的市场准入权、资产安全权、广泛知情权、公平交易权、服务保证权和投资收益权六项合法权益;从投资者权益保护角度看,虽然试点制度层次清楚、基本完整,但结构失衡,效率不足;建议出台长远规划,推进转融通制度,调整市场准入制度,完善投资者权益保护评价制度,并扩大试点范围,提高效率。
[Abstract]:The experiment of margin trading is facing an important task of perfecting the system. This paper makes a case study on the pilot system of margin trading from the perspective of the protection of investors' rights and interests, and studies the system arrangement of the pilot project of margin trading in China. This paper first tries to evaluate the institutional system of margin trading trial, and finds that its institutional mechanism basically guarantees investors the right to market access, the right to asset safety and the right to know widely. Six legitimate rights and interests: the right to fair trade, the right to guarantee services and the right to benefit from investment. From the point of view of protecting the rights and interests of investors, although the level of the pilot system is clear and basically complete, the structure is out of balance and the efficiency is insufficient. We will promote the transfer and financing system, adjust the market access system, improve the evaluation system for the protection of investors' rights and interests, and expand the scope of pilot projects to improve efficiency.
【作者单位】：中国证券业协会;
【基金】：“上海证券交易所联合研究计划”第21期研究课题“融资融券法律制度国际比较研究——完善融资融券试点的政策体系研究”的阶段研究成果
【分类号】：F832.51

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