本文選題：公募基金　切入點(diǎn)：信息披露　出處：《西南政法大學(xué)》2015年碩士論文

【摘要】：隨著居民財(cái)富越來越快地向資本市場(chǎng)轉(zhuǎn)移,公募基金作為財(cái)富配置的重要手段之一越來越受到人們的關(guān)注。但是基于公募基金行業(yè)在中國仍然是一個(gè)新興業(yè)態(tài),無論是現(xiàn)行法律的適用性還是監(jiān)管思路上強(qiáng)監(jiān)管、輕個(gè)人投資者自我保護(hù)的現(xiàn)狀都使得個(gè)人投資者的權(quán)利保護(hù)狀態(tài)不盡人意。本文主要從信息披露的維度梳理市場(chǎng)中監(jiān)管及各市場(chǎng)參與主體的博弈現(xiàn)狀,從市場(chǎng)博弈及個(gè)人投資者自我保護(hù)的角度,基于更好更成熟的市場(chǎng)博弈有利于每種參與主體的利益市場(chǎng)以及逐步扭轉(zhuǎn)強(qiáng)監(jiān)管強(qiáng)管制的傳統(tǒng)金融管理模式的個(gè)人判斷,希望通過在市場(chǎng)發(fā)展過程中給予市場(chǎng)自我糾錯(cuò)、新興業(yè)態(tài)自我成長、賦予個(gè)人投資者自我保護(hù)權(quán)利,從整體格局上打造一個(gè)更好的信息披露的法制狀態(tài),以有利于整個(gè)行業(yè)更好發(fā)展。在對(duì)于信息披露相關(guān)建議的提出上,本篇主要基于這樣一些前提,一是:目前監(jiān)管立意上出于經(jīng)濟(jì)運(yùn)行的需求催生出的包括基金業(yè)在內(nèi)的資本市場(chǎng)客觀上忽略了微觀層面上對(duì)個(gè)人投資者的保護(hù);但監(jiān)管如此立意,并非出于對(duì)個(gè)人投資者利益的忽略,恰恰是出于對(duì)個(gè)人投資者是“弱勢(shì)群體”的前提性假設(shè),使得個(gè)人投資者的行為一直處于被侵害(包括自我侵害)的困局里。而從金融安全的角度,市場(chǎng)醞釀及出現(xiàn)的過程中,監(jiān)管總是小心翼翼避免系統(tǒng)性金融風(fēng)險(xiǎn),但監(jiān)管、機(jī)構(gòu)投資者、中介機(jī)構(gòu)、個(gè)人投資者之間的博弈性發(fā)展的缺失卻導(dǎo)致了散戶化特征裹挾整個(gè)市場(chǎng),導(dǎo)致了一次又一次的基金狂熱和一次又一次的所謂“政府救市”;二是法律保護(hù)的探討需要兼顧權(quán)利實(shí)現(xiàn)的可行性,司法成本和對(duì)市場(chǎng)規(guī)律的尊重。在建議方面,本篇緊緊圍繞讓市場(chǎng)自我塑造,逐步消除強(qiáng)監(jiān)管管制過度1的思路,提出了:引入類消費(fèi)者保護(hù)條款,建立交易分層制度,對(duì)銷售環(huán)節(jié)進(jìn)行禁止性監(jiān)管,建立大數(shù)據(jù)監(jiān)測(cè)體系,對(duì)互聯(lián)網(wǎng)銷售基金逐步放開等五項(xiàng)內(nèi)容。
[Abstract]:As residents' wealth is transferred to the capital market more and more quickly, the public offering fund, as one of the important means of wealth allocation, has attracted more and more attention. However, the public offering fund industry is still a new industry in China. Whether it is the applicability of the current law or the idea of supervision, The status quo of light individual investors' self-protection makes individual investors' rights protection state unsatisfactory. This paper mainly combs the current situation of market supervision and market participants' game from the dimension of information disclosure. From the point of view of market game and individual investor self-protection, based on the personal judgment that better and more mature market game is beneficial to the benefit market of each participant and to gradually reverse the traditional financial management mode of strong supervision and strong regulation. I hope that by giving the market self-correcting in the course of market development, self-growth of emerging business, giving individual investors the right to self-protection, and creating a better legal state of information disclosure from the overall structure, In order to be conducive to the better development of the whole industry. This article is mainly based on such a number of premises for the proposal of information disclosure. The first is that the current regulatory intent is driven by the need to run the economy, and the capital markets, including the fund industry, objectively ignore the protection of individual investors at the micro level; but the regulation is so determined. Not out of neglect of the interests of individual investors, but just out of the presupposition that individual investors are "vulnerable groups." The behavior of individual investors has always been in the dilemma of being infringed (including self-infringement). But from the perspective of financial security, in the process of market gestation and emergence, regulation is always careful to avoid systemic financial risk, but regulation, The lack of game development among institutional investors, intermediaries and individual investors has led to the characterization of retail investors as a whole. It has led to time and again the fund frenzy and the repeated so-called "government rescue"; second, the discussion of legal protection needs to take into account the feasibility of the realization of rights, the cost of justice and respect for the laws of the market. This article closely revolves around lets the market self-mold, gradually eliminates the strong supervisory control excessive 1 thought, proposed: the introduction class consumer protection clause, establishes the transaction stratification system, carries on the prohibited supervision to the sale link, establishes big data monitoring system, For Internet sales funds gradually open up such five content.
【學(xué)位授予單位】：西南政法大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2015
【分類號(hào)】：D922.287

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本文編號(hào)：1674584