公募证 券投资基金退市制度分析-法律(经济法)专业论文.docx

PAGE PAGE 1 PAGE PAGE 2 Abstract This paper studies the delisting system of the public offering securities investment fund. The text is divided into five parts: The first part studies the general theory of the delisting system of the public offering securities investment fund. This section briefly introduces the relationship between the market exit of the securities investment fund and the delisting of the fund, the classification of the fund delisting, the ways in which the fund delists and the basic principle we shall adhere to while building up the delisting system of the fund. The market exit of the securities investment fund and the delisting of the fund have a inclusion relation. Based on different standards, the fund delisting can be classified as voluntary delisting and compulsory delisting, formal delisting and semi-delisting. By means of liquidation, merger and changing the method of fund operation, the fund can delist from the exchange. While building up the delisting system of the fund, we shall adhere to four basic principles, including respecting economic freedom while reducing administrative intervene, refusing to regard the compulsory delisting as a measure of punishment, emphasizing investor protection and remedy, and enriching the content of the delisting system. The second part studies the delisting standards of the public offering securities investment fund. Voluntary delisting standards are characterized with non-uniformity. Although voluntary delisting has no unified and explicit standards, the fund may by itself determine the specific delisting standards by standard-determining procedures. Stipulating the delisting in the fund contract and making a decision of delisting by the fund shareholders’ meeting are the two kinds of standard-determining procedures of Voluntary delisting. When we interpret the both two existing standard-determining procedures, we should not limit their meanings to the literal ones. Instead, they should