我国集合投资类理财产品的治理及完善

The Governance and Perfection of Collective Investment Financial Products in China

完善的治理结构是保护集合投资类产品投资者利益和保证金融市场健康发展的重要制度基础。对照国际通行的集合投资计划治理准则,我国集合投资类理财产品的法律框架、投资者的权利及权利主体、财产独立性、"治理实体"等等都存在较多不够完善的方面。文章建议通过监管部门的合作,统一集合投资类理财产品的治理规则和监管制度,实施"新老划段",稳妥推进我国集合投资类理财产品治理结构的完善。

The governance of collective investment schemes play a very important role in protection of investors and the development of financial market. Compared with international best practices, the legal frame work of the asset management products in China, the rights of investors, the independence of its property, and governance entity of these products need to be improved. The author suggests that the three regulators should establish legal frame work of the asset management products on the basis of corporation and communication. To avoid great impacts on the financial market, the new institution should be implemented step by step, allowing the existing products to operate according to the old rules.