证券投资咨询行业升级、两阶牌照与法制改革

发布时间：2018-04-13 03:33

本文选题：全权委托 + 信义关系　；参考：《证券市场导报》2017年12期

【摘要】：证券投资咨询行业对于一国证券市场的稳健发展具有十分重要的意义。中国证券投资咨询业由单纯的向客户提供投资建议升级为全权委托账户管理的咨询业务,是全行业走出困境和进一步发展的必然要求。证券业务监管上应设置两类牌照,即"两阶牌照":投资建议的咨询牌照和全权委托账户管理的咨询牌照。全权委托账户管理的咨询牌照的推行,需要改革一些为投资建议咨询牌照所制定的规则,包括改革对咨询业务中的委托代理的禁止性规定;对咨询行业的收费监管进行改革;放开咨询机构自营业务的禁止,转而采用强制信息披露的规制方法。投资咨询业务的证券监管奉行原则监管:以保护客户资产为目标,以投资咨询机构与客户之间的信义义务关系为主轴,以反欺诈为证券执法的核心。全权委托账户管理的业务合规需要监管部门投入一定的执法资源。
[Abstract]:The securities investment consulting industry has very important significance for the sound development of the securities market. Chinese securities investment consulting industry commissioned by the pure discretionary account management to provide investment advice for upgrading the consulting business, the whole industry is out of the predicament and the inevitable requirement for further development. The securities business supervision should be set up on the two class license, i.e. "two order licence": investment advice license and discretionary account management consulting license. Discretionary account management consulting license implementation, the need to reform some investment advisory licences for the rules, including the reform of the principal agent in the consulting business of prohibition; consulting supervision fees reform; release consultancy proprietary business is prohibited, instead of using the method of regulation of mandatory information disclosure. The investment advisory business of securities supervision and adheres to the principle of supervision Management: Taking the protection of customer assets as the goal and taking the relationship between investment consulting institutions and customers as the main axis, the core of securities law enforcement is anti fraud. The business compliance of authorized accounts management requires regulatory authorities to invest certain law enforcement resources.

【作者单位】：清华大学法学院;
【基金】：中国证监会2016年度资本市场法制课题研究课题“证券期货投资咨询活动相关法律问题研究”(主持人:汤欣教授)的阶段性成果
【分类号】：D922.287;F832.51

【相似文献】