契约型证券投资基金持有人保护的法律研究.pdfVIP

中文摘要 证券投资基金是现代资本市场的重要力量之一。我国的契约型证券投资基金迅猛发 展、为中国经济的发展发挥着重要作用，但同时也暴露出了很多问题。由于缺乏完善的保 护机制，基金持有人的合法利益，很容易受到来自基金管理人等的损害。 本文围绕基金持有人的法律保护展开论述。本文首先对契约型证券投资基金的基本法 理进行了系统的阐述，对契约型证券投资基金的概念、特征、法律关系等进行了界定，进 而指出了持有人利益受损的四个原因，包括代理链条、信息拥有量、法律关系以及投资心 理四个方面的原因。在这一基础上，本文从内部手段和外部手段两个角度，针对我国证券 投资基金治理结构和诉讼救济中存在的问题，提出了制度上的改善思路和完善建议：在内 部保护手段上，创建受托委员会，提高托管人独立性，并完善基金管理公司的独立董事、 独立监事等制度；在外部救济手段上，改良德国的团体诉讼制度，借鉴美国集团诉讼中的 有益元素，对持有人的诉讼机制进行改进，以此保障基金持有人行使其诉权。 关键词：契约型证券投资基金；持有人保护； 基金治理； 诉讼救济 I Abstract AAbbssttrraacctt The securities investment fund is the important power of the modern capital market. The China’s contractual securities investment fund develop quickly and play important pole in Chinese economic, but it also expose many problems. Because of the lack of the protection mechanism,thelegalbenefitsofthefund holderishurteasilybythefundmanager. This paper bases on the legal protection of the fund holder.Firstly, this paper introduce the contractual securities investment fund’s concept, the characteristics, and the legal relationship, and then points out the four reasons of the damage of the holder’s benefits, including the agent chain, the information, the legal relationship and the investment psychology. On this base, this passage from the view of internal and external, give the law suggestions for the problem of the fund governance and the litigation relief. Internally, we should create the trust committee, increase the independence of the fund trustee, and perfect the system of the fund management company. Externally, by learning the advanced system on the other country ,we should improve ourlawsuitprocedureonthestock andensurethefund holder’sright ofaction. Keywords: KKeeyywwoorrddss::Thecontractual securitiesinvestmentfund ;protectoftheholder; fundgovernance;litigation relief