资产证券化的运行原理与法律问题研究——从《证券法(修订草案)》谈起

Research on the Operation Principle and Legal Issues of Asset Securitization——Talking from the Draft Revision of the Securities Law

本文通过对资产证券化概念和产生原因的分析,资产证券化迎合了作为原始权益人的企业和投资者的客观需求。通过对资产证券化交易过程和交易结构的分析,得出资产证券化的核心。在确定特殊目的载体的法律性质下,探讨了信托法律关系可以使信托财产达到财产独立和破产隔离的目的。

Based on the analysis of the concept and causes of asset securitization, it is foundthat asset securitization caters to the objective demand of enterprises and investors as originalrights holders. Through the analysis of the transaction process and the transaction structure of as-set securitization, the core of asset securitization is obtained. In determining the legal nature ofthe Special Purpose Vehicle, this paper discusses the legal relationship of trust so that the trustproperty can reach the purpose of property independence and bankruptcy isolation.