韩国资产证券化信托功能监管的发展历程及经验启示

The Development Experience and Enlightenment of the Function Supervision of Asset Securitization Trusts in ROK

广义上,资产证券化过程中,设立特定目的信托的受托人既包括标准的信托机构,也包括虽无信托之名但行信托之实的其他金融机构。韩国的功能主义综合金融监管体系十分具有代表性,不仅迅速扭转了不利局面,而且有利于对数字财产交易、金融投资(消费)者保护、企业数据保护与金融监管科技等主题的拓展。守住不发生系统性金融风险的底线是中国特色社会主义制度的优越性在金融改革领域的深刻体现。我国应着重解决资产证券化信托的功能统一监管问题,明确大资管产品的信托属性,理清基础法律关系,充分将社会主义核心价值观融入金融监管工作当中,走中国特色社会主义金融改革发展之路。

In a broad sense,in the process of asset securitization,the trustees who set up special purpose trust include not only standard trust institutions,but also other financial institutions that act in the name of trust.ROK's functionalism comprehensive financial supervision system is very representative which not only quickly reversed the unfavorable situation,but also helped to expand the themes of digital property transactions,financial investor(consumer)protection,enterprise data protection and financial supervision technology.Keeping the bottom line of avoiding systemic financial risks is a profound reflection of the superiority of the socialist system with Chinese characteristics in the field of financial reform.China should focus on solving the problem of unified supervision of asset securitization trust function,clarify the trust property of large asset management products,clarify the basic legal relationship,fully integrate the socialist core values into the financial supervision work,and take the road of socialist financial reform and development with Chinese characteristics.