【摘要】：歐盟投資者適當(dāng)性制度主要體現(xiàn)在《金融工具市場指令》及其實(shí)施指令當(dāng)中。投資服務(wù)客戶分類是前提,投資公司履行"了解客戶"義務(wù)是基礎(chǔ),投資公司"最佳執(zhí)行"要求是核心,也是投資者適當(dāng)性制度的落腳點(diǎn)。歐盟成員國在國內(nèi)轉(zhuǎn)化實(shí)施指令,意味著投資者適當(dāng)性制度在歐盟層面趨于協(xié)調(diào)和一致。在新的形勢下,歐洲主權(quán)債務(wù)危機(jī)此起彼伏,歐盟投資者適當(dāng)性制度面臨新的考驗和挑戰(zhàn)。專業(yè)客戶分類面臨新的調(diào)整,"最佳執(zhí)行"要求有待進(jìn)一步完善,投資服務(wù)客戶保護(hù)水平整體上得以提升。
[Abstract]:The EU investor suitability system is mainly embodied in the Financial Instruments Market Directive and its implementation directives. The classification of investment service customers is the premise, the investment company to fulfill the "know customer" obligation is the basis, the investment company "the best execution" requirement is the core, also is the investor appropriate system the foothold. The EU member states' domestic transformation and implementation of the directive means that the investor appropriateness system tends to be coordinated and consistent at the EU level. Under the new situation, the European sovereign debt crisis is one after another, the European Union investor suitability system faces new test and challenge. Professional customer classification is faced with new adjustment, "best execution" requirements need to be further improved, investment service customer protection level can be improved overall.
【作者單位】： 上海對外貿(mào)易學(xué)院法學(xué)院;
【基金】：教育部人文社會科學(xué)研究青年基金項目“新形勢下金融穩(wěn)定和投資者保護(hù)法律制度研究—以金融系統(tǒng)性風(fēng)險為視角”(項目編號:11YJC820068) 上海市教委第五期重點(diǎn)學(xué)科國際貿(mào)易法項目(項目編號:J51204)的資助
【分類號】：D95;D922.28
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本文編號：2397178