论我国证券投资基金持有人权益保护的完善

发布时间：2018-05-01 15:37

本文选题：基金持有人 + 合法权益　；参考：《江西财经大学》2013年硕士论文

【摘要】：在金融市场比较完善的资本主义国家，证券投资基金因为其投资管理的专业性往往成为人们首选的投资方式。在中国这一逐步发展的金融市场，证券投资基金成为金融投资的首选产品,这一趋势是可以肯定的。但是，我们可以看到随着投资基金地位的日益上升，相关法律制度对基金份额持有人合法权益的保护却存在缺陷，基金管理人对利益的追逐以及基金份额持有人合法权益这一对矛盾关系，如果相关法律制度不能缓和它们之间的矛盾，则势必影响证券投资基金在我国金融市场上的健康发展。近年来，我国基金持有人权益保护出现了一些问题，严重影响了证券投资基金的正常发展。专门为基金持有人维护权益设立的基金持有人大会制度，因为法律对召开人数规定过于严格，往往致使大会难以召开；大会召开时对于表决权的行使，代理权的行使以及提案权的行使规定的相当模糊，使得这些权利最终难以实现。为了解决上述问题，笔者认为应该分别从制度设计和立法完善两方面出发，降低基金持有人大会召开需要的法定人数，设立表决回避制度，代理权设限制度以及设置提案权制度。专门为证券投资者权益设立的证券投资者保护基金，，由于直接对其进行规定的法律文件效力层级过低，以及对其监管方面存在着监管权混乱的现象，使得该基金的保护目的难以实现。为了保证该基金的设立目的得以实现，应该从立法上提升《证券投资者保护基金管理办法》的效力层级，建立单一监管制度以弥补投资者保护基金监管方面存在的缺陷。经过研究，基金管理人信息披露制度在透明性、及时性、全面性、规范性、积极性方面存在不足。笔者认为可以从扩大信息披露的范围；缩小信息披露等待期限；放开对盈利性预测信息的管制这几个方面完善信息披露制度，同时在立法上缩小基金管理人信息披露的等待期限；放宽对盈利性预测信息的限制。关于基金托管人对基金管理人监管方面的缺陷在于以下几个方面：基金托管人的设立缺乏独立性；监督权力的性质规定不明确；投资监督标准不明确。为了弥补上述缺陷，笔者认为可以从以下几个方面对相关制度加以完善:通过建立不当行为预警系统，赋予基金托管人对基金管理公司内部人员的质询权，赋予基金托管人独立诉权以增强监管的效果。
[Abstract]:In capitalist countries with perfect financial markets, securities investment funds are often the preferred investment methods because of their professional investment management. In China's developing financial market, securities investment funds become the first choice of financial investment products, this trend is certain. However, we can see that with the increasing status of investment funds, the relevant legal systems have defects in protecting the legitimate rights and interests of fund share holders. The contradiction between fund managers' pursuit of interests and the legitimate rights and interests of fund share holders will inevitably affect the healthy development of securities investment funds in China's financial market if the relevant legal systems cannot alleviate the contradictions between them. In recent years, there are some problems in the protection of the rights and interests of fund holders in China, which seriously affect the normal development of securities investment funds. A system of meetings of fund holders established specifically for the protection of the rights and interests of fund holders, because the law is too strict on the number of persons to convene, which often makes it difficult to convene the conference; and the exercise of the right to vote at the time of the convening of the meeting, The exercise of agency rights and the exercise of proposal rights are rather vague, making these rights difficult to realize. In order to solve the above problems, the author thinks that the system design and legislative perfection should be carried out separately to reduce the quorum required for the convening of the general meeting of the fund holders, and to set up a voting withdrawal system. The system of setting up limitation of agency right and the system of setting up proposal right. The fund for the protection of the rights and interests of securities investors, due to the low level of validity of the legal documents directly stipulated on it, and the phenomenon of confusion in the supervision of the fund, This makes it difficult to achieve the protective purpose of the fund. In order to ensure the establishment of the fund, it is necessary to raise the level of effectiveness of the securities investor protection fund management method in legislation and establish a single supervision system to make up for the defects in the supervision of the investor protection fund. Through research, the fund manager information disclosure system in transparency, timeliness, comprehensiveness, standardization, enthusiasm deficiencies. The author thinks that we can improve the information disclosure system from the aspects of enlarging the scope of information disclosure, narrowing the waiting period of information disclosure, and liberalizing the regulation of profit-making forecast information. At the same time, legislation to reduce the waiting period for fund managers to disclose information; relax the profit forecast information restrictions. The defects in the supervision of fund managers lie in the following aspects: the establishment of fund custodians lacks independence, the nature of supervision power is not clear, and the standards of investment supervision are not clear. In order to make up for the above defects, the author thinks that the relevant system can be perfected from the following aspects: by establishing the early warning system of misconduct, the trustee of the fund can be given the right to inquire about the internal personnel of the fund management company. To grant the fund custodian the right of independent action to enhance the effectiveness of supervision.
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D922.287

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