發(fā)布時(shí)間：2018-01-01 12:15

  本文關(guān)鍵詞：我國(guó)銀信合作業(yè)務(wù)中的投資者權(quán)益保護(hù)　出處：《華東政法大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 商業(yè)銀行 信托公司 銀信理財(cái)合作 銀行代理推介業(yè)務(wù) 投資者保護(hù)

【摘要】：銀行業(yè)與信托業(yè)的合作是伴隨著國(guó)內(nèi)銀行理財(cái)業(yè)務(wù)逐步深入而發(fā)展起來的。進(jìn)入二十一世紀(jì)，商業(yè)銀行理財(cái)市場(chǎng)不斷創(chuàng)新繁榮，銀行理財(cái)業(yè)務(wù)借助信托公司突破混業(yè)經(jīng)營(yíng)限制的趨勢(shì)愈加明顯，到2007年信托公司已經(jīng)成為銀行理財(cái)產(chǎn)品的主要平臺(tái)，而信托公司囿于營(yíng)銷渠道上的限制，一定程度上也依賴于銀行代理其推介信托計(jì)劃。然而近年來，隨著信托項(xiàng)目陸續(xù)到期，一些銀信合作項(xiàng)目到期兌付風(fēng)險(xiǎn)也相繼浮出水面，雖然最終皆因“剛性兌付”而有驚無險(xiǎn)，但這種非正常的兌付方式終有破滅的一天，因此深入研究我國(guó)銀信合作業(yè)務(wù)中的投資者權(quán)益保護(hù)問題就顯得迫切而具現(xiàn)實(shí)意義。 本文除引論和結(jié)語外，主要分為四個(gè)部分： 第一部分是提出問題。通過對(duì)光大銀行與安信信托案以及中誠(chéng)信托“誠(chéng)至金開1號(hào)”案的介紹和分析，引出客戶資源和資金去向皆由商業(yè)銀行主導(dǎo)的銀信理財(cái)合作和銀行代理推介信托計(jì)劃這兩種銀信合作業(yè)務(wù)模式中的投資者權(quán)益保護(hù)這一問題，并由此展開本文對(duì)與此相關(guān)的一些問題的研究。 第二部分是銀信合作業(yè)務(wù)概述及當(dāng)事人之間法律關(guān)系探析。介紹了本文主要討論的銀信理財(cái)合作以及銀行代理推介信托計(jì)劃這兩類銀信合作業(yè)務(wù)模式，對(duì)這兩種合作模式中的投資者、銀行、信托公司這三方當(dāng)事人之間的法律關(guān)系進(jìn)行界定。在銀信理財(cái)合作業(yè)務(wù)中，投資者通過購(gòu)買銀行發(fā)售的理財(cái)產(chǎn)品將資金交付銀行，投資者與銀行之間成立信托法律關(guān)系；而銀行將理財(cái)計(jì)劃項(xiàng)下資金交付信托公司，設(shè)立信托計(jì)劃，銀行與信托公司之間亦是信托關(guān)系；由于信托關(guān)系具有關(guān)系阻斷功能，因此，投資者與信托公司之間沒有法律關(guān)系。在銀行代理推介信托計(jì)劃業(yè)務(wù)中，投資者與信托公司之間在銀行的居間介紹下簽訂信托投資理財(cái)合同，投資者與信托公司之間的關(guān)系為信托法律關(guān)系，銀行為二者之間的居間人。但在實(shí)踐操作中，銀行憑借其在客戶和項(xiàng)目資源上的優(yōu)勢(shì)，往往主導(dǎo)了銀信合作業(yè)務(wù)，信托公司也隨之淪為銀行的“通道”或“平臺(tái)”，形成“銀強(qiáng)信弱”的局面，其法律地位也產(chǎn)生了異化。而信托項(xiàng)目一旦產(chǎn)生信用風(fēng)險(xiǎn)，銀行與信托公司之間的責(zé)任分配也將因?yàn)殡p方法律地位的異化而變得難以確認(rèn)，必然會(huì)損害到理財(cái)產(chǎn)品投資者的權(quán)益。 第三部分是銀信合作業(yè)務(wù)投資者權(quán)益保護(hù)必要性分析。金融理財(cái)產(chǎn)品投資者權(quán)益保護(hù)具有委托代理理論、信息不對(duì)稱理論以及公共利益理論等普適性理論基礎(chǔ)，而且在現(xiàn)實(shí)操作中，，投資者與金融機(jī)構(gòu)之間存在著交易信息不對(duì)稱以及人、財(cái)、物等實(shí)力懸殊，處于相對(duì)弱勢(shì)地位。此外，投資者是金融理財(cái)市場(chǎng)資金的供應(yīng)源和最核心的要素，投資者權(quán)益保護(hù)是發(fā)展資本市場(chǎng)的核心內(nèi)容之一。因此，保護(hù)銀信合作業(yè)務(wù)中的投資者權(quán)益具有堅(jiān)實(shí)的理論基礎(chǔ)和現(xiàn)實(shí)必要性。 第四部分是檢視我國(guó)保護(hù)銀信合作業(yè)務(wù)投資者權(quán)益的現(xiàn)有制度，分析存在的缺陷和不足，并據(jù)此從立法、執(zhí)法、司法及自律四個(gè)方面提出相應(yīng)對(duì)策和建議。檢視我國(guó)現(xiàn)行商業(yè)銀行理財(cái)計(jì)劃、信托公司資金信托計(jì)劃以及銀信合作業(yè)務(wù)方面的法律法規(guī)、部門規(guī)章及規(guī)范性法律文件，部分對(duì)于銀信合作業(yè)務(wù)投資者權(quán)益保護(hù)問題也作了相關(guān)規(guī)定，但還存在重視程度不夠、原則性規(guī)定以致于操作性不強(qiáng)、監(jiān)管執(zhí)法不到位、金融機(jī)構(gòu)自律不足、私法救濟(jì)缺失等一系列問題。針對(duì)存在的種種缺陷和不足，本部分主要從立法、執(zhí)法、司法以及行業(yè)自律四個(gè)方面提出完善我國(guó)銀信合作業(yè)務(wù)投資者權(quán)益保護(hù)的相關(guān)對(duì)策和建議。在立法方面，立法機(jī)關(guān)應(yīng)該盡快制定和完善監(jiān)管法律法規(guī)及相關(guān)規(guī)章制度，明確銀信合作業(yè)務(wù)當(dāng)事人的法律地位，建立和完善市場(chǎng)準(zhǔn)入機(jī)制，在合格投資者制度基礎(chǔ)上引入投資者適當(dāng)性原則，健全強(qiáng)制信息披露機(jī)制，強(qiáng)化銀行在代理推介業(yè)務(wù)中的盡職調(diào)查義務(wù)和責(zé)任，明確通道類業(yè)務(wù)主體之間的責(zé)任分配，探索建立投資者賠償基金機(jī)制和針對(duì)金融機(jī)構(gòu)道德風(fēng)險(xiǎn)防范的相關(guān)制度設(shè)計(jì)；在監(jiān)管執(zhí)法方面，監(jiān)管機(jī)構(gòu)應(yīng)當(dāng)轉(zhuǎn)變監(jiān)管思路，由機(jī)構(gòu)監(jiān)管向功能監(jiān)管轉(zhuǎn)變，并加大監(jiān)管執(zhí)法力度；在司法審判方面，在立法和執(zhí)法缺位的情況下，司法這道最后防線充分發(fā)揮其定紛止?fàn)幍墓δ埽�依法正確認(rèn)定當(dāng)事人之間的法律關(guān)系，行使好傾斜性保護(hù)弱勢(shì)投資者權(quán)益的自由裁量權(quán)，并完善司法配置，強(qiáng)化處理新型金融市場(chǎng)案件的能力；在行業(yè)自律方面，行業(yè)協(xié)會(huì)和金融機(jī)構(gòu)應(yīng)加強(qiáng)自律，重視投資者教育工作。銀信合作業(yè)務(wù)所涉主體共同努力，公平保護(hù)投資者合法權(quán)益，促進(jìn)我國(guó)金融市場(chǎng)健康穩(wěn)定發(fā)展。
[Abstract]:The banking and trust industry cooperation is accompanied by domestic banking business gradually developed. In twenty-first Century, the prosperity of financial market innovation of commercial banks, the banking business by Trust Company Limited breakthrough mixed operation trend more obvious, by 2007 the trust company has become the main platform of financial products, trust company limited the marketing channel restrictions, to a certain extent also depends on the agent bank trust scheme. However, in recent years, with the trust project have expired, some bank letter of cooperation project to payment risk have also surfaced, although the final because the "rigid payment and near misses, but this will not burst a normal payment mode day, so the study of protecting the rights and interests of investors in China business bank letter of cooperation in the problem is urgent and realistic significance.
In addition to the introduction and conclusion, this article is divided into four parts:
The first part of the problem is put forward. Through the introduction and Analysis on the China Everbright Bank and Anxin trust case and CCT honest to gold No. 1 case, leads to customer resources and money by the commercial bank leading financial cooperation agency and bank trust scheme the two cooperation business model to protect investors' interests in the this problem, and the research on some related issues.
The second part is the analysis of the legal relationship between the parties and the overview of cooperation business is introduced. This paper mainly discusses the financial cooperation and the agent bank trust scheme of these two types of cooperation business model, the two modes of cooperation of investors, banks, defines the legal relationship between the three parties of the trust company in the business bank letter of financial cooperation, investors through the purchase of bank offering financial products will be delivered to the bank funds, the establishment of the trust legal relationship between investors and banks; and the bank will pay the funds under the financial plan trust company, plans to set up a trust between banks and trust companies, is also the trust relationship; trust relationship relationship is blocked therefore, there is no legal function, the relationship between the investor and the trust company. The trust scheme in the banking business, investors and trust company In bank intermediary signed investment trust contract relationship between investors and trust companies trust legal relationship, the bank is among the two intermediary. But in practice, banks with their customers and project resources, often leading the bank letter of cooperation, trust companies also a bank "channel" or "platform", "silver letter form strong and weak situation, its legal status is also alienated. But once trust projects have a credit risk, allocation of responsibilities between banks and trust companies will also because of the alienation of the legal status of the two parties and difficult to confirm, it is bound to damage the financial products of the rights and interests of investors.
The third part is the analysis of the necessity of cooperation business to protect the interests of investors. Financial products to protect the interests of investors with the principal-agent theory, information asymmetry theory and the theory of public interest such as universal theory, but in practice, there exists asymmetric information and people, between investors and financial institutions such as finance, the strength of the poor and in a relatively weak position. In addition, investors in financial market funds supply source and the core elements, to protect the interests of investors is one of the core content of the development of capital market. Because of this, has a solid theoretical foundation and realistic necessity of protecting cooperation business in the interests of investors.
The fourth part is the review of existing protection in China business bank letter of cooperation of the rights and interests of investors, analysis of defects and deficiencies, and then from the legislation, law enforcement, put forward corresponding countermeasures and suggestions of justice and self-discipline four aspects. Examine the financial plan of our country's commercial banks, the laws and regulations of trust company trust fund plan and cooperation business the department regulations and normative legal documents, part of the business bank letter of cooperation to protect the interests of investors also made the relevant provisions, but there are still not enough attention, the principle provisions that are not operational, the supervision of law enforcement is not in place, financial institutions lack of self-discipline, a series of problems such as lack of law relief for all. The defects and shortcomings, this part mainly from the legislation, law enforcement, judicial and self-discipline four aspects to improve China's Bank letter of cooperation business investment rights and interests protection The relevant countermeasures and suggestions. In the aspect of legislation, the legislature should as soon as possible to develop and improve the regulatory laws and regulations and the relevant rules and regulations, clear the legal status of the parties of the cooperation business, establish and improve the market access mechanism, the introduction of investment in qualified institutional investors on the basis of appropriate principles, perfecting the mechanism of mandatory information disclosure, strengthen due diligence obligations and liabilities of the bank in the agency promotion business, the distribution of responsibility among clear channel business entities, explore the establishment of the investor compensation fund mechanism and relevant system design for moral risk prevention of financial institutions; the supervision of law enforcement, regulatory agencies should change the regulatory ideas, change from institutional supervision to functional supervision, and strengthen the supervision of law enforcement; in the administration of justice, in the absence of legislation and enforcement of the judicial case, the last line of defense to give full play to the end of the dispute The function of law, correctly identify the legal relationship between the parties, the exercise of good protection of the discretion of weak investor rights and rights, improve the judicial configuration, strengthening the capability of processing a new financial market case; in industry self-regulation, industry associations and financial institutions should strengthen self-discipline, attach importance to investor education. The bank letter of cooperation business subject to equal protection of the legitimate rights and interests of investors, and promote the healthy and stable development of China's financial market.

【學(xué)位授予單位】：華東政法大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：D922.281

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