我国私募基金的法律监管研究

发布时间：2018-03-27 12:30

本文选题：私募基金　切入点：监管原则　出处：《中央民族大学》2010年硕士论文

【摘要】： 私募基金是相对于公募基金而言,通过非公开募集的方式向少数特定有资格的机构或者富有的个人投资者募集资金而设立的投资基金。改革开放以来,私募基金作为一种新兴的金融产品在我国资本市场蓬勃发展起来。它对于今日中国经济的繁荣腾飞发挥着不可替代的积极作用。在现今中国经济飞速发展、世界经济瞬息万变的时期,私募基金已经成为带动我国经济又好又快发展的绝佳选择。在我国私募基金迅速发展的今天,急需相关的法律措施的规范和监管,以确保我国资本市场的稳定。我国加入WTO已有数年,当今的国际金融经济一体化已成必然趋势。中国正在崛起,正快速向经济大国迈进,私募基金在国际经济环境和国际资本市场中的地位日益凸显,我国私募基金在不久后将充斥我国资本市场。此时此刻,仅仅依靠《信托法》、《证券法》、《公司法》、《合伙企业法》以及《信托公司证券投资信托业务操作指引》等相关法律法规对我国私募基金参考适用显然是远远不够的。笔者认为现阶段应以务实的态度推进我国私募基金合法化,运用法律手段界定并科学分类、明确属性、制定切实的特色监管措施,加强对蓬勃发展的私募证券基金的监管,提出对已经开始占据私募基金主要舞台的私募股权基金的监管建议,以此促进我国资本市场的合法化,促进我国经济的繁荣发展。本文将通过对我国私募基金概念、分类、性质、重要意义、发展现状、存在问题的分析,运用将我国实际情况与发达国家和地区的先进经验相结合的方法,探讨出适于我国私募基金的法律监管建议。通过较为系统全面的研究,笔者针对如何建立健全我国私募基金法律监管建设性的提出应当明确私募基金法律监管的立法原则。这些原则包括：订立统一完善的监管体系原则,法律政策监管为主、行业自律为辅原则,借鉴经验、注重实际原则,坚持私募基金资产独立原则,私募基金各参与主体平等原则和私募基金行为合理化、效率化原则。在明确了监管立法原则之后,笔者综合运用经济学和法学的相关原理,在借鉴了各个国家和地区的先进经验的基础上,通过一些案例的引入探讨出较为全面科学的构建我国私募基金法律监管的建议。具体而言,笔者认为应当明确私募基金各方主体及其权责,规定监管私募基金投资者的明确标准,明确发起人、管理人、托管人的权利与责任,明确私募基金监管主体及其职责。在信息披露制度上,应当采取适度严格的信息披露制度,并且做出具体规定。在税收征管方面,应当尽量运用立法和监管的手段避免“双重征税”。介于我国私募基金种类繁多的特点,应当对其实施分类监管。
[Abstract]:Private equity funds are investment funds set up to raise funds from a small number of specific qualified institutions or wealthy individual investors through private raising, as opposed to public funds. Since the reform and opening up, As a new financial product, private equity fund is booming in China's capital market. It plays an irreplaceable positive role in the prosperity of China's economy today. In the period of rapid changes in the world economy, private equity funds have become the best choice to drive China's economy to develop well and rapidly. With the rapid development of private equity funds in our country, the regulation and supervision of relevant legal measures are urgently needed to ensure the stability of China's capital market. China's entry into WTO has been several years. Nowadays, the integration of international finance and economy has become an inevitable trend. China is rising up, it is rapidly moving towards a big economic power, and private equity funds are playing an increasingly important role in the international economic environment and the international capital market. China's private equity funds will soon flood our country's capital markets. At this moment, It is obviously not enough to rely on the Trust Law, Securities Law, Company Law, Partnership Enterprise Law and the Trust Company Securities Investment Trust Operation guidelines for the reference and application of private equity funds in China. The author thinks that we should promote the legalization of private equity fund in our country with a pragmatic attitude at the present stage. We should use legal means to define and classify scientifically, define the attributes clearly, formulate effective and characteristic supervision measures, and strengthen the supervision of the booming private equity funds. In order to promote the legalization of China's capital market and promote the prosperity and development of China's economy, this paper puts forward some suggestions on the supervision of private equity funds, which have begun to occupy the main stage of private equity funds. Through the analysis of the concept, classification, nature, significance, development status and existing problems of China's private equity fund, this paper applies the method of combining the actual situation of our country with the advanced experience of developed countries and regions. To explore the legal supervision of private equity funds in China. Through more systematic and comprehensive research, In view of how to establish and improve the legal supervision of private equity fund in China, the author puts forward the legislative principles of legal supervision of private equity fund. These principles include: establishing the principle of unified and perfect supervision system, giving priority to the supervision of law and policy. The principle of industry self-discipline is auxiliary, drawing lessons from experience, paying attention to practical principle, insisting on the principle of asset independence of private equity fund, the principle of equality of participating subjects of private equity fund and the principle of rationalization and efficiency of private equity fund behavior. The author synthetically applies the relevant principles of economics and law, on the basis of drawing lessons from the advanced experiences of various countries and regions, Through the introduction of some cases to explore the more comprehensive and scientific construction of legal supervision of private equity funds in China. Specifically, the author believes that the parties to private equity funds and their rights and responsibilities should be clearly defined. Stipulating the clear standards for supervising private equity fund investors, clarifying the rights and responsibilities of sponsors, managers and custodians, clarifying the supervisory subjects and their duties of private equity funds. In the information disclosure system, a moderately strict information disclosure system should be adopted. In the aspect of tax collection and administration, legislation and supervision should be used to avoid double taxation.
【学位授予单位】：中央民族大学
【学位级别】：硕士
【学位授予年份】：2010
【分类号】：D922.28;F832.51

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