CAJ | 학술논문

作为一种新的更加灵活的投资方式,私募基金在我国出现的时间虽然比较晚,但发展迅猛,已经具有相当庞大的规模。就是这样一种对中国资本市场影响举足轻重的私募基金,我国法律却没有明确其地位,其市场准入、运作模式及法律监管更是无法可依。很多私募基金都处于违规操作状态,存在着极大的风险。因此,应当完善配套立法,确立私募基金的合法地位;建立以证监会、私募基金行业协会、商业银行三重监管的私募基金法律监管机制;建立私募基金市场准入制度和评级制度,从而实现对私募基金风险的有效控制。
작위일충신적경가령활적투자방식,사모기금재아국출현적시간수연비교만,단발전신맹,이경구유상당방대적규모。취시저양일충대중국자본시장영향거족경중적사모기금,아국법률각몰유명학기지위,기시장준입、운작모식급법률감관경시무법가의。흔다사모기금도처우위규조작상태,존재착겁대적풍험。인차,응당완선배투입법,학립사모기금적합법지위;건립이증감회、사모기금행업협회、상업은행삼중감관적사모기금법률감관궤제;건립사모기금시장준입제도화평급제도,종이실현대사모기금풍험적유효공제。
As a new investing way which is more flexible,privately offered fund develops very rapidly in China and already has a large scale,although it comes to China quite late.Such a significant privately offered fund that has decisive influences on China＇s capital market has not been regulated in China＇s code of law.And the market access,operation mode as well as legal supervision of privately offered fund have no legislation to follow.As a result,many privately offered fund behaviors are violation operations,which would be in a great risk.In view of this,China should complete the related legislation and define the legal identification of privately offered fund.Furthermore,the government has to set up a legal supervision system which consists of triple supervisions from stock supervisory committee,build up privately offered fund and commercial banks,thus accomplishing the effective control on privately offered fund.