期货公司合规法律制度研究

发布时间：2018-01-01 09:37

  本文关键词：期货公司合规法律制度研究　出处：《对外经济贸易大学》2015年博士论文　论文类型：学位论文

  更多相关文章： 合规 期货公司 公司治理

【摘要】：任何一项研究都与自然、社会密切相关,期货公司合规理论与实务研究也不例外。随着金融行业步入新知识、新技术的后发展时期,我国期货公司合规法律制度的研究与设计,势必成为当前理论和实务界亟需解决的课题。2008年,中国证监会下发了《期货公司首席风险官管理规定(试行)》,标志着我国期货行业合规风险管理工作的全面启动。但是由于我国期货市场合规工作起步晚、人才缺乏、期货公司对合规风险管理的意识不足以及监管部门没有相应的期货合规指引和细则等诸多原因,致使期货公司相比银行、保险、证券等金融机构尚未形成成熟的合规体系。"期货市场是一个规则导向的市场","期货法"的迟迟缺位是我国无法建立期货公司合规体系的重要因素。期货行业自身的特性和我国期货市场的发展历史证明,合规的行业文化和规范的经营模式是期货行业和期货公司可持续发展的基础;期货公司合规管理迫切要求我国"期货法"尽快出台,以此弥补期货公司合规法律依据的不足。本文共分为七章,从比较研究的角度借鉴美国、新加坡、日本、我国香港和台湾等地区期货公司相关法律制度的研究,弥补我国立法、外部监管、投资者保护及设立机构等层面的相对滞后和研究的薄弱环节。第1章绪论。概述了选题的理论和实践价值,研究的主要内容和研究方法,研究目标和研究难点、拟研究的创新点。本章对期货、期货公司、合规、合规管理等重要概念进行了界定,简述了期货与合规的发展历史以及国内外关于期货公司合规管理的研究现状。第一章拟解决期货公司合规较之普通企业合规、其他金融机构合规的特殊性问题。第2章期货公司合规的理论支撑。合规、内部控制与公司治理三者密切相关,合规是内部控制的核心内容与目标之一,为确保合规而建立起来的合规体制,与内部控制机制是构成公司治理有效性的基础。在运作良好的公司里,其合规、内部控制与公司治理应该彼此融洽、有机结合,并形成良性的互动。合规源自公司治理,本章通过对合规的连接性、合规与道德标准、合规与律师—当事人保密主义、合规与信义义务、合规与公司透明度、期货公司合规风险控制理论等多个层面进行分析,得出合规是公司治理发展的必然选择。合规在公司治理中的定位和作用是什么?合规义务与信义义务有哪些联系与区别?合规风险与其他风险之间的界限在哪里?此部分作为选题主体的起始章节,逐步解决上述问题,将合规引入到期货公司的治理之中,为期货合规溯本追源,也为后文的写作进行铺垫。第3章期货公司不合规行为的认定。本章是文章的重点内容。期货公司合规管理的根本目标是避免不合规行为的发生。由于我国法律的缺失以及期货交易的复杂性,混业模式,期货公司违法违规行为的具体分类和法律认定界限模糊。文章深入研究了美国期货公司在交易中存在的不合规行为。通过对国内外具体的案例分析,为我国制定期货法律、规则以及如何认定欺诈、市场操纵、内幕交易、洗售、洗钱等不合规行为提出建议。同时也为期货公司规范自身行为,制定合规计划提供充分的范式。第4章期货公司不合规行为的法律规制。法律、规则、准则即是期货市场的生命线,又是期货公司合规的依据。本章归纳了期货公司合规中"规"的来源,对一般性法律规则进行了总结。显然期货法律、规则、准则相对匮乏,限制了合规的发展,体现了行业对"期货法"出台的迫切要求。期货市场是一个规则导向的市场,但是我国期货业存在"先发展,后立法"的问题,致使合规管理的法律依据不明晰。因此,本文提出期货公司合规管理过程中应当适用"规则导向向原则导向过渡"的理念,当规则不健全时,法律原则依然可以作为合规管理的"底线"。此外,本文提出完善的信息隔离墙制度和信息披露及透明化制度是预防违规风险发生的最优合规措施。第5章期货合规与内部监控制度。本章是论文的核心内容之一,介绍了合规与内部控制的关系,合规部门及合规总监的设置。文章分析了企业内部出现合规部的具体原因。本章要解决的重点问题是期货公司首席合规官与总法律顾问在公司中的角色如何分配?董事会、监事会及其他管理部门在合规过程中如何定位?合规部门的职能是什么?如何设计层级报告路径?第6章期货公司合规与投资者保护制度。保护期货市场投资者利益是期货市场监管的重要目标。笔者将本章的重心定位在期货公司"事后的合规管理"法律制度研究方面。文章分析了美国的投资者举报制度,以及对投资者素养的研究制度,明确了期货投资者与期货公司的法律关系,提出通过建立一套行之有效的投资者保障基金制度,在期货公司等金融中介损害投资者利益、破产退市等情况下,能够及时对投资者的利益提供切实的保护。针对投资者对期货公司的合规情况进行监督问题,借鉴美国多德法案对投资者保护作出的具体规定,为我国期货公司如何通过合规保护投资者的利益提供了"蓝本"。第7章期货公司合规与外部监管制度。金融行业的高风险性决定了外部监管的重要性。期货行业经过综合治理,目前已经进入了常规监管阶段。综合治理时期对期货公司侧重的是外部监管,即期货监管机构及行业自律组织的监管。但是,在日益发达而又复杂多变的市场经济环境下,由于期货行业的高风险性和与社会经济、政治稳定的高度关联性,使得期货行业的合规性要求不断提升。尤其是综合治理前,相继发生的一系列因期货公司自身合规风险管理失控而导致的重大财务丑闻和关闭破产案件,引起了人们对以外部监管为中心的传统监管方式的不断反思。如何通过加强期货公司内部合规以弥补外部监管的不足,成为期货行业面临的又一重大课题。本章重点研究了美国、英国、新加坡以及我国台湾地区的期货公司外部监管模式;总结出我国期货公司当前外部监管存在的突出问题;以及解决这些问题的有效途径即通过期货公司合规以弥补外部监管的不足。第8章结论。本章对上述各章节分析的重点问题进行了系统的总结。文章最后提出了笔者继续进行期货公司合规管理法律制度研究的方向。
[Abstract]:A research is closely related with nature, society, Futures Company compliance theory and practice study is no exception. As the financial industry entered a new period of development of new knowledge, technology, research and design of China's Futures Company compliance legal system, will become the current solution in theory and practice to the subject of.2008, China the Commission issued under the provisions of "the chief risk officer of the Futures Company Management (Trial)", started marking management of China's futures industry compliance risk. But because of China's futures market compliance work started late, the lack of Futures Company, there is no corresponding futures compliance guidelines and rules for the reasons such as the lack of unity compliance risk management awareness and supervision department, the Futures Company compared to banking, insurance, securities and other financial institutions have not yet formed mature compliance system. "The futures market is a rule oriented city "," Futures Law "is an important factor in our country has been the absence of Futures Company cannot establish a compliance system. The characteristics of the futures industry itself and the history of the development of China's futures market shows that the compliance culture industry and standardize the business model is the futures industry and Futures Company sustainable development foundation; the compliance management of Futures Company it is urgent for our country" Futures Law "as soon as possible, to make up for lack of legal basis to Futures Company compliance. This paper is divided into seven chapters, from the angle of comparative study from the United States, Singapore, Japan, Hongkong and Taiwan and other regions of the Futures Company of China's legal system, make up for China's legislation, external supervision, investor protection and the establishment of the relative lag and weakness on. The first chapter is the introduction. It summarizes the theory and practice of the value of the topic, the main contents and methods of the research, research objectives and research The difficulty, intends to study the innovation. The chapter on futures, Futures Company, compliance, compliance management concepts are defined, the futures and the compliance and history of the development of domestic and foreign Futures Company on compliance management research. The first chapter intends to solve the Futures Company compliance is better than the ordinary corporate compliance, special the problem of other financial institutions compliance. The second chapter theoretical support Futures Company compliance. Compliance, internal control and corporate governance three are closely related, compliance is the core content of internal control and one of the goals, to ensure compliance of the compliance system and internal control mechanism is the basis of the constitution corporate governance. In the good operation of the company, its compliance, internal control and corporate governance should be harmonious with each other, combine and form the benign interaction. The compliance from corporate governance, this chapter of the compliance and connectivity. Compliance with ethical standards, compliance with the attorney - client confidentiality doctrine, compliance and fiduciary duties, compliance and corporate transparency, Futures Company compliance risk control theory to analyze the multiple levels, that compliance is the inevitable choice of corporate governance development. What is the role and position of compliance in the corporate governance together? Regulatory duties and fiduciary obligations which links and differences? The boundaries between the compliance risk and other risks in this part as the main topic? The initial chapters, gradually solve the above problems, the compliance into the Futures Company governance, futures compliance tracing the source, but also to pave the way for later writing the identification of the third chapter Futures Company non-compliance. This chapter is the focus of the thesis. The fundamental goal of Futures Company compliance management is to avoid non-compliance. Due to the lack of the law of our country and Futures Trading The complexity of mixed mode, identify the specific classification and legal fuzzy boundaries Futures Company of illegal behavior. This paper studies the existence of transactions in the United States Futures Company non-compliance. At home and abroad through the analysis of specific cases, for our country to develop the futures law, rules and how to identify fraud, market manipulation, insider trading, wash sale. Money laundering and other illegal behavior are proposed. At the same time also regulate their own behavior for the Futures Company, to provide full compliance paradigm plan. The fourth chapter of legal regulation of Futures Company non-compliance. Laws, rules, standards is the lifeline of the futures market, and Futures Company is the basis for compliance. This chapter summarizes the Futures Company compliance "the rules of the source of the general rules of law are summarized. Obviously the futures legal rules, standards, relatively scarce, limited the development of compliance, the method of" futures industry" The introduction of the urgent requirement. The futures market is a rule oriented market, but China's futures industry "development first, after legislation", the legal basis for compliance management is not clear. Therefore, this paper puts forward the management process of Futures Company compliance should apply the rules to guide the transition principle oriented "concept and when the rule is not perfect, the legal principles can still be used as the compliance management of the" bottom line ". In addition, this paper improve the wall of information system and information disclosure and transparency is to prevent the risk of illegal optimal compliance measures. In the fifth chapter, futures compliance and internal control system. This chapter is the core content of this paper, introduces the relationship between compliance with internal control, compliance and compliance director settings. This paper analyzes the internal reason specific compliance department. The key problem of this chapter is to solve the joint Futures Company chief How to gauge officer and general counsel in the company's role in the distribution? The board of directors, board of supervisors and other management departments to locate in the compliance process? What is the compliance department functions? How to design the reporting path? The sixth chapter Futures Company compliance and investor protection system to protect the interests of investors. The futures market is an important goal the supervision of the futures market. The author will focus in this chapter on the legal system of Futures Company "compliance management" afterwards. This paper analyzes American investor reporting system, and research system for investors of literacy, clear legal relationship between futures investors and Futures Company, proposed through establishing a set of effective investor protection fund system in the Futures Company and other financial intermediaries, damaging the interests of investors, bankruptcy delisting case, it can provide effective protection of the interests of investors. The needle The problem for investors to supervise the Futures Company's compliance, from specific provisions of the U.S. Dodd Oxley Act to protect investors, China's Futures Company how to provide a "blueprint" compliance to protect the interests of investors. In the seventh chapter, the Futures Company compliance and external supervision system. The high risk of financial industry determines the importance of external supervision the futures industry. After comprehensive treatment, the current has entered the stage of comprehensive treatment. The regular monitoring period is the external supervision of Futures Company focus, namely futures regulators and industry self regulatory organizations. However, in the increasingly developed and complicated environment of market economy, due to the high risk of the futures industry and social economy, highly Association of political stability, the compliance requirements of the futures industry has been increasing. Especially the comprehensive management, a series of Lieyin period have occurred A major financial scandal of goods company's compliance risk management due to out of control and off bankruptcy cases, caused people to reflect on the traditional way of supervision by external supervision as the center. How to strengthen the Futures Company internal compliance to compensate for the lack of external supervision, has become a major issue facing the futures industry. This chapter focuses on the United States, Britain, Singapore and China's Taiwan region of the external supervision mode of Futures Company; summarizes our Futures Company problems in external supervision; and the effective ways for solving these problems through the Futures Company compliance to compensate for the lack of external supervision. The eighth chapter is the conclusion. This chapter analysis of the above chapters focus on problems the system is summarized. Finally, the author puts forward to continue research on the legal system of compliance management of Futures Company.

【学位授予单位】：对外经济贸易大学
【学位级别】：博士
【学位授予年份】：2015
【分类号】：D922.287
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本文编号：1363993