本文選題：證券交易 + 投資者�。� 參考：《華東政法大學》2013年碩士論文

【摘要】：隨著證券交易產(chǎn)品復雜化和專業(yè)化趨勢的加強，投資者在選擇相關產(chǎn)品或服務時會越來越依賴于證券商的推薦。因此，為了確保證券商能夠適當推薦產(chǎn)品或服務來維護投資者的利益，“適當性規(guī)則”在證券交易領域已經(jīng)成為一項不可或缺的重要規(guī)則。我國創(chuàng)業(yè)版市場、融資融券交易市場和股指期貨交易市場中已有關于適當性規(guī)則的相關規(guī)定。從2012年伊始到2013年，證券業(yè)協(xié)會和上海證券交易所陸續(xù)發(fā)布了有關“適當性規(guī)則”的規(guī)定，再次凸顯了適當性規(guī)則在我國證券交易領域的重要性。當然，目前有關適當性規(guī)則的規(guī)定仍有許多不完善的地方，需要從學習借鑒和自我提升兩種層面上來發(fā)展與完善。 本文將從四個部分來闡述與分析有關適當性規(guī)則的法律問題，具體包括： 第一部分主要闡述了適當性規(guī)則的基本內(nèi)涵及理論基礎。適當性規(guī)則產(chǎn)生于美國證券交易中，最初只是作為證券商應當遵守的職業(yè)道德規(guī)范，隨著證券業(yè)的成熟而逐漸演變?yōu)楸O(jiān)管規(guī)則，其具體內(nèi)容包括了兩個層面：一是合理根據(jù)適當性規(guī)則；二是客戶特定適當性規(guī)則。本文側(cè)重從“買者自負”原則和信義義務兩個角度來深度挖掘適當性規(guī)則的理論基礎。 第二部分對世界主要資本市場中適當性規(guī)則的相關規(guī)定進行了比較研究。美國自律性組織首先提出了適當性規(guī)則，，但隨后美國證券交易委員會制定的10b-5規(guī)則將適當性規(guī)則納入了行政監(jiān)管的范疇，并通過司法判例和仲裁裁決使其內(nèi)容得到最大的充實；歐盟《金融工具市場指令》的規(guī)定對適當性規(guī)則進行了詳細的闡述；日本則通過一系列立法實踐最終確立了適當性規(guī)則的法律地位。本文還從立法模式、適用對象、投資者信息內(nèi)容等角度進行了全方位的比較分析，旨在探尋各國規(guī)定中的共同點與相異處。 第三部分全面梳理了我國證券市場中適當性規(guī)則的現(xiàn)狀，包括對證券公司適當性義務的直接規(guī)定和相關市場（如創(chuàng)業(yè)版市場、融資融券交易市場以及股指期貨交易市場）中有關適當性規(guī)則的規(guī)定。另外，本文還總結(jié)歸納了我國證券市場中適當性規(guī)則的特點，并深入分析了其中存在的法律問題。 第四部分從適當性規(guī)則的法律定位、投資者適當性規(guī)則的具體內(nèi)容構(gòu)建、證券公司違反適當性規(guī)則的民事責任和投資者救濟途徑四個維度進行了詳細論述，旨在完善我國證券交易中的適當性規(guī)則。
[Abstract]:With the strengthening of the complexity and specialization of the securities trading products, investors are increasingly dependent on the recommendation of the securities dealers when choosing related products or services. Therefore, in order to ensure that the securities dealers can properly recommend products or services to maintain the interests of investors, "appropriate rules" have become an issue in the field of securities trading. The important rules of the market, the margin trading market and the stock index futures trading market in China have been related to the rules of appropriateness. From the beginning of 2012 to 2013, the Securities Industry Association and the Shanghai stock exchange have published the regulations on the "appropriateness rules". Again, the appropriate rules have been highlighted in our country. The importance of the field of securities trading is of course, of course, at present, there are still a lot of imperfections in the provisions on the rules of appropriateness, which need to be developed and perfected from two levels of learning and self promotion.
This article will explain and analyze the legal issues related to the rules of appropriateness from four parts, including:
The first part mainly expounds the basic connotation and theoretical basis of the rules of appropriateness. The rules of appropriateness are produced in the securities trading of the United States. At first, it was only the professional ethics that the securities dealers should abide by. With the maturity of the securities industry, the rules gradually evolved into regulatory rules. The specific internal capacity included two levels: one is reasonable and appropriate. The two is the customer specific rules of appropriateness. This article focuses on the theoretical basis of the depth mining of the appropriate rules from the two angles of the "buyer's conceit" principle and the faith obligation.
The second part makes a comparative study on the relevant rules of the rules of appropriateness in the world's major capital markets. The United States self-discipline organization first puts forward the rules of appropriateness, but then the 10b-5 rules formulated by the United States Securities and Exchange Commission incorporate the rules of appropriateness into the category of administrative supervision, and make them content through judicial precedents and arbitral awards. The provisions of the EU "financial tool market directive" have made a detailed exposition of the rules of appropriateness, and Japan has finally established the legal status of the rules of appropriateness through a series of legislative practices. This article also makes a comprehensive comparative analysis on the legislative model, the applicable object, the information content of the investor and so on. To explore the common points and dissimilarities in the rules of the country.
The third part comprehensively combs the current situation of the appropriate rules in China's securities market, including the direct provisions on the appropriateness obligation of the securities companies and the relevant regulations on the relevant markets (such as the market of the entrepreneurial version, the margin trading market and the stock index futures trading market). In addition, this paper also summarizes the securities market in China. The characteristics of the rules of appropriateness, and in-depth analysis of the legal problems existing therein.
The fourth part, from the legal position of the rules of appropriateness, the construction of the specific content of the investor's appropriateness rule, the four dimensions of the civil liability of the securities company in violation of the appropriateness rule and the way of investor relief, is designed to perfect the appropriateness rules in the securities trading of our country.
【學位授予單位】：華東政法大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：D922.287

【參考文獻】

相關期刊論文 前2條

1 甘培忠;雷馳;;對金融創(chuàng)新的信義義務法律規(guī)制[J];法學;2009年10期

2 莊玉友;;日本金融商品交易法述評[J];證券市場導報;2008年05期

本文編號：1913101