本文關(guān)鍵詞： 證券投資者保護(hù)基金 制度缺陷 完善措施　出處：《寧波大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：由于證券投資者保護(hù)基金具有兩方面的制度特質(zhì)，一是能夠為證券投資者提供資金補(bǔ)償，有助于增強(qiáng)投資者長期投資于資本市場的信心，二是可以對證券公司的經(jīng)營狀況進(jìn)行持續(xù)的監(jiān)控，預(yù)防和控制證券公司發(fā)生大規(guī)模的破產(chǎn)風(fēng)險，因而受到世界各國，特別是發(fā)達(dá)國家監(jiān)管當(dāng)局的關(guān)注與重視。自美國1970年頒布《證券投資者保護(hù)法》以來，包括德國、日本、英國在內(nèi)的世界多個國家和地區(qū)紛紛建立起自己的保護(hù)基金法律制度。歐盟還在1997年制定通過了《投資者賠償基金指令》，以此來統(tǒng)一歐盟框架下的證券投資者保護(hù)的標(biāo)準(zhǔn)，強(qiáng)化對中小證券投資者的保護(hù)力度。立足于更好地保護(hù)中小投資者，維護(hù)其投資證券市場的信心，推進(jìn)證券市場的健康規(guī)范發(fā)展，我國在2005年正式頒布了《證券投資者保護(hù)基金管理辦法》，該部規(guī)范性文件的出臺標(biāo)志著我國正式建立起證券投資者保護(hù)基金法律制度。 然而建立和完善證券投資者保護(hù)基金法律制度是一項龐雜的系統(tǒng)工程。如何讓保護(hù)基金在風(fēng)云變幻的資本市場上順利運作，充分發(fā)揮其應(yīng)有的作用，是我國證券投資者保護(hù)基金法律制度面臨的巨大挑戰(zhàn)。從目前我國的實際情況來看，證券投資者保護(hù)基金的具體制度設(shè)計和政策安排尚不明晰，缺陷問題也是層出不窮。 本文的第一部分，是對證券投資者保護(hù)基金法律制度的概述，梳理了證券投資者保護(hù)基金法律制度的內(nèi)涵，并對保護(hù)基金的功能定位進(jìn)行了闡述，為下文進(jìn)一步展開具體制度做出了前期鋪墊。 文章第二部分的寫作主題是證券投資者保護(hù)基金的國際立法經(jīng)驗，著力對證券投資者保護(hù)基金制度中的重點問題進(jìn)行研究。通過規(guī)范體系、外部監(jiān)管與內(nèi)部治理、籌資方式、償付機(jī)制的闡述，，總結(jié)國際立法的經(jīng)驗，并搭建證券投資者保護(hù)基金法律制度框架。 文章的第三部分為我國證券投資者保護(hù)基金的制度缺陷，擬對我國現(xiàn)行制度的運作情況進(jìn)行分析和檢討。詳細(xì)指出規(guī)范體系、監(jiān)管模式與治理結(jié)構(gòu)、籌資方式、償付機(jī)制四大領(lǐng)域在實踐中的缺陷。 文章的第四部分在前文論述的基礎(chǔ)上，結(jié)合域外優(yōu)秀經(jīng)驗、失敗教訓(xùn)和改革動向，對上文中提到的制度缺陷逐一提出優(yōu)化建議。
[Abstract]:Because the securities investor protection fund has two aspects of institutional characteristics, one is that it can provide fund compensation to the securities investor, which helps to enhance the investor's confidence in investing in the capital market for a long time. Second, it is possible to continuously monitor the operation status of securities companies, prevent and control large-scale bankruptcy risks of securities companies, and thus be subjected to various countries in the world. Especially the concern and attention of the regulatory authorities in developed countries. Since the promulgation of the Securities Investor Protection Act in the United States in 1970, including Germany and Japan, Many countries and regions in the world, including the United Kingdom, have established their own legal systems for the protection of funds. The European Union also adopted the "Investor compensation Fund Directive" on 1997, in order to unify the standards for the protection of securities investors under the framework of the European Union. To strengthen the protection of small and medium-sized securities investors, to better protect small and medium-sized investors, to maintain their confidence in investing in the securities market, and to promote the healthy and standardized development of the securities market, In 2005, China formally promulgated the measures for the Management of Securities Investor Protection funds. The introduction of the Ministry's normative documents marks the formal establishment of the legal system of the Securities Investor Protection Fund in China. However, establishing and perfecting the legal system of the securities investor protection fund is a complicated and systematic project. How to make the protection fund run smoothly in the volatile capital market and give full play to its due role, It is a great challenge to the legal system of the securities investor protection fund in our country. From the actual situation of our country at present, the concrete system design and the policy arrangement of the securities investor protection fund are not clear, the defect question also appears endlessly. The first part of this paper is an overview of the legal system of the protection fund of securities investors, combing the connotation of the legal system of the protection fund of securities investors, and expounding the function orientation of the protection fund. For the following further development of the specific system to make the early stage of the foreshadowing. The second part of the article is about the international legislative experience of the securities investor protection fund, focusing on the key issues in the securities investor protection fund system. Through the normative system, external supervision and internal governance, the way to raise funds. The expounding of repayment mechanism, summing up the experience of international legislation, and setting up the legal system frame of securities investor protection fund. The third part of the article is about the defects of the securities investor protection fund system in our country. It intends to analyze and review the operation of the current system in China, and point out in detail the normative system, the regulatory model and the governance structure, the way of raising funds. Four major areas of reimbursement mechanism in practice defects. On the basis of the previous discussion, the 4th part of the article, combining with the excellent experiences, the failure lessons and the reform trend, puts forward some suggestions for the optimization of the system defects mentioned above one by one.
【學(xué)位授予單位】：寧波大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：D922.287

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