美国基金持有人民事诉讼研究

A Study on the Civil Litigation of Fund Shareholders in U.S.

保护基金持有人权益乃现代基金法制之灵魂。面对基金管理人在管理基金资产时出现的种种不当行为,民事诉讼无疑将成为基金持有人维权首选的法律武器。作为全球基金业最发达的国家,美国正是通过构建一套完整可行的民事诉讼机制来实现对基金持有人的救济。这种救济主要源自《投资公司法》中的明示诉讼、判例法中的默示诉讼及SEC的诉讼援助。为完善对我国基金持有人的民事救济,以遏制基金管理人的侵权行为,今后我国在修订基金立法时有必要对之加以借鉴。

Protecting fund shareholders’rights is the soul of the fund codes.Obviously,the civil litigation has become the first legal weapon for fund shareholders to safeguard themselves when they are confronted with the misconducts of fund managers.As the most developed country in fund industry,the U.S.extraordinarily emphasizes instituting a completed and practicable civil litigation mechanism to relieve the harmed fund shareholders.The remedy is mainly realized through three ways,i.e.,expressed action,implied action and the helps from SEC in litigation.As for China’s fund legislation,it is necessary for us to learn from the U.S.law to regulate the misconducts and ameliorate the fundshareholders’civil action.