集合资金信托适当性规则研究

发布时间：2018-06-26 13:51

本文选题：集合资金信托 + 受托人义务　；参考：《复旦大学》2013年硕士论文

【摘要】：近几年,我国集合资金信托产品快速发展。在繁荣的同时,也不断发生集合资金信托在设立及推介阶段不规范,将“有毒”信托产品进行推介而导致投资者利益受损,信托公司、银行与投资者陷入纠纷的现象。集合资金信托产品“先寻找项目再募集资金进行投资、管理”的结构特点,使得在信托关系前的义务规制十分重要,而适当性规则作为国外发达金融市场普遍运用的规则,有助于在推介阶段对投资者进行保护,其在集合资金信托中也可适用。我国在推介集合资金信托方面已经粗线条地确立了适当性规则,但需待完善。本文即在对适当性规则进行概念、内容和立法例考察的基础上,分析我国集合资金信托适当性规则的现状及问题,并就集合资金信托适当性规则的内容完善和民事责任制度的构建提出建议。本文除引言外,共分为三章。第一章总结了适当性规则的概念及内容,观察美国、欧盟、日本和韩国的适当性规则的制度经验,为我国集合资金信托适当性规则完善提供域外经验。第二章梳理了我国现行集合资金信托适当性规则的规定,探讨集合资金信托适当性规则在规范层面和实践层面存在的问题。前者包括立法层级偏低与系统性差、投资者合格与分类缺陷问题,产品分类问题和责任救济措施问题。而后者主要包括“刚性兑付”和受托人行为失范。第三章从两个层面讨论集合资金信托适当性规则的完善,其一,要完善适当性规则的规范体系,并在规范体系中确立适当性规则具体内容。其二,要构建违反集合资金信托适当性规则的民事责任制度。
[Abstract]:In recent years, China's pooled funds trust products have developed rapidly. At the same time, during the prosperity, the collective fund trust is not standardized in the stage of establishment and recommendation, and the "toxic" trust products are recommended, which results in the loss of investors' interests, and the disputes between trust companies, banks and investors. The structural characteristics of pooled fund trust products such as "first looking for projects and then raising funds for investment and management" make the regulation of obligations before trust relationship very important, while the rule of appropriateness is widely used in foreign developed financial markets. Helps to protect investors in the referral phase, which can also be applied in pooled funds trusts. Our country has established the appropriate rule in the aspect of introducing the pooled fund trust, but it needs to be perfected. On the basis of analyzing the concept, content and legislative examples of appropriateness rules, this paper analyzes the present situation and problems of the appropriateness rules of collective funds trust in China. It also puts forward some suggestions on the perfection of the rules of appropriateness of pooled funds trust and the construction of civil liability system. In addition to the introduction, this article is divided into three chapters. The first chapter summarizes the concept and content of appropriateness rules, observes the institutional experience of the appropriate rules of the United States, the European Union, Japan and Korea, and provides extraterritorial experience for the perfection of the appropriate rules of pooled funds trust in China. The second chapter combs the provisions of the current rules of the appropriateness of the pooled funds trust, and discusses the problems of the rules of the appropriateness of the pooled funds trust at the normative and practical levels. The former includes low legislative level and poor system, investor qualification and classification defect, product classification and liability relief measures. The latter mainly includes "rigid payment" and misconduct of trustees. The third chapter discusses the perfection of the appropriateness rules of pooled funds trust from two aspects. First, we should perfect the normative system of appropriateness rules, and establish the concrete contents of appropriateness rules in the normative system. Second, it is necessary to construct civil liability system which violates the rules of appropriateness of pooled funds trust.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D922.282

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