本文選題：融資融券 + 擔保模式��； 參考：《華東政法大學》2012年碩士論文

【摘要】：融資融券制度，于17世紀起源于市場經(jīng)濟較早萌發(fā)的荷蘭，歷經(jīng)幾個世紀的不斷完善，如今已成為金融市場上一種重要的交易方式。由于融資融券交易的核心是獲得股價波動帶來的利差，因此具有很強的投機性。為了消除市場風險，維護證券市場交易的有序和安全，融資融券擔保制度成為各國的首要選擇。 我國融資融券交易剛剛起步，《證券公司融資融券業(yè)務試點管理辦法》（下稱《試點管理辦法》）對融資融券交易的擔保制度作了概述，之后，滬深兩地交易所對此進行了更進一步的規(guī)定，但是，由于我國融資融券擔保制度與現(xiàn)存其他法律制度存在相沖突之處，學界和實務界對此爭論不休，因此，本文以此為切入點，試圖探尋解決之道。 本文由緒論、正文和結語三部分組成。緒論主要介紹本文研究的背景和意義、本文的研究文獻綜述以及研究的路徑和方法，這一部分給全文以指導性說明。 正文分四章： 第一章為融資融券交易及擔保機制概述。首先，對融資融券交易進行簡要概述，對其進行界定并分析融資融券交易中的法律關系，在評價其效用和風險的基礎上，引出本文的研究對象融資融券擔保制度。其次，對融資融券擔保機制的特征及其法律關系進行分析，我國融資融券的交易流程是一個相對封閉的體系，通過不同賬戶之間的串聯(lián)保證了交易的安全和效率，擔保制度在其中起著重要的作用，和其他法律關系一樣，融資融券擔保法律關系也包括主體、客體和內(nèi)容等。 第二章為我國融資融券擔保機制的法律困境。首先，梳理我國相關法律、法規(guī)對融資融券擔保制度的相關規(guī)定，由此得出結論：我國融資融券的擔保模式為信托架構。但是如此設計卻與我國現(xiàn)行法律相沖突，由此引出了本章第二節(jié)的內(nèi)容。一方面，，我國融資融券的擔保機制與我國信托法相沖突，違背了信托法理；另一方面，我國融資融券擔保機制與我國傳統(tǒng)民商法原理相沖突。正是因為存在諸多不合理之處，才有必要予以完善。 第三章為域外融資融券擔保機制的比較研究。筆者選取了融資融券擔保制度較為完善的美國、日本以及我國臺灣地區(qū)作為研究樣本，通過對擔保法律關系主體、融資融券保證金、融資融券保證金的管理等內(nèi)容的比較分析，筆者認為，在融資融券擔保法律性質上，美、日及我國臺灣地區(qū)采取了實踐模式的路徑，在立法建立起一種融資融券擔保的體系架構和操作模式的基礎上，以實現(xiàn)融資融券的安全性和便捷性為指導，在司法審判和實務操作中加以認可。這種制度設計可以為我國爭論不止的融資融券擔保模式所借鑒，由此引出了第四章的內(nèi)容。 第四章為我國融資融券擔保法律制度的完善。首先，通過對我國學界和實務界通行的信托說、讓與擔保說、質權說、賬戶質押說比較分析，筆者認為前述傳統(tǒng)學說均無法滿足我國融資融券擔保的現(xiàn)實需求，由此引出了以解決現(xiàn)實問題為導向的功能主義思路。其次，分析我國融資融券擔保制度以功能主義為導向的可行性，一方面，金融市場的效率要求使功能主義的引入具有合理性，另一方面，域外的成功經(jīng)驗使功能主義的引入具有可行性。最后，對我國融資融券擔保制度的完善提出具體建議。 結語是對全文的總結，筆者建議在引入功能主義的思路時，民商法的基本規(guī)則也應與時俱進，從而給金融市場法律制度的有序創(chuàng)新提供更大的空間。
[Abstract]:The financing margin system, which originated in Holland, which sprouled early in the market economy in seventeenth Century, has become an important trading mode in the financial market after several centuries of improvement. Because the core of the margin trading is to gain the margin caused by the fluctuation of the stock price, it has a strong speculation. In order to eliminate the market risk and maintain it, The security and security of securities market transactions become the primary choice of all countries.
The financing margin trading of our country has just started. < the pilot management method for the securities financing margin business > (hereinafter referred to as the pilot management method) is an overview of the guarantee system of the margin trading. After that, the Shanghai and Shenzhen Stock Exchange has made further regulations on this, but it is from the margin financing guarantee system and other existing legal systems in China. There is a conflict between the academic and the practical circles. Therefore, this article tries to find a solution to this problem.
This article is composed of three parts: introduction, text and conclusion. The introduction mainly introduces the background and significance of the study, the literature review and the way and method of the research. This part gives the guidance of the full text.
The text is divided into four chapters.
The first chapter is an overview of margin trading and guarantee mechanism. First, a brief overview of margin trading, the definition and analysis of the legal relationship in the margin trading, on the basis of evaluation of its utility and risk, is introduced. Secondly, the characteristics of the margin financing guarantee mechanism. And its legal relationship is analyzed. The transaction process of margin financing is a relatively closed system, which ensures the safety and efficiency of the transaction through the series of different accounts. The guarantee system plays an important role in it. Like other legal relations, the legal relations of margin financing guarantee include the subject, the object and the content.
The second chapter is the Legal Predicament of the margin financing guarantee mechanism in China. First, combing the relevant laws and regulations of our country and the relevant provisions of the margin financing guarantee system, the conclusion is that the guarantee mode of the margin financing is the trust structure. However, this design is in conflict with the current law of our country, which leads to the inside of the second section of this chapter. On the one hand, the guarantee mechanism of margin financing in our country is in conflict with the trust law of our country and violates the trust law; on the other hand, the guarantee mechanism of margin financing in our country conflicts with the principle of traditional civil and commercial law in our country. It is because there are many unreasonable places, it is necessary to improve it.
The third chapter is the comparative study of foreign financing margin guarantee mechanism. The author chooses the comparative analysis of the subject of the legal relationship, the margin margin of financing and the management of margin margin in the Taiwan region of the United States, Japan and the region of China as the research samples. On the basis of the legal nature of securities loan guarantee, the United States, Japan and the Taiwan region of China have adopted the path of practice mode. On the basis of the establishment of a system framework and operation mode of financing margin guarantee in legislation, the security and convenience of financing margin can be realized, which can be recognized in judicial trial and practical operation. The fourth chapter is the reference of our country's debates on margin financing.
The fourth chapter is the perfection of the legal system of margin financing guarantee in our country. First, the author thinks that the traditional theory can not meet the actual needs of the margin financing guarantee in our country by means of the theory of trust, the theory of pledge, the pledge of pledge and the account pledge. On the other hand, the efficiency requirement of financial market makes the introduction of functionalism reasonable, on the other hand, the extraterritorial successful experience makes the introduction of functionalism feasible. Finally, the guarantee system of margin financing in China is made. Put forward specific suggestions.
The conclusion is the summary of the full text. The author suggests that the basic rules of the civil and commercial law should keep pace with the times when introducing the thought of functionalism, thus providing greater space for the orderly innovation of the legal system of the financial market.

【學位授予單位】：華東政法大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：D922.28;F832.51

【相似文獻】

相關期刊論文 前10條

1 ;關于責令洛陽市證券公司糾正證券違規(guī)問題的通知[J];中國證券監(jiān)督管理委員會公告;2000年04期

2 岸文;島內(nèi)證券業(yè)如何管理?——訪臺灣世界證券公司總經(jīng)理林衡輝[J];兩岸關系;2003年03期

3 周帆;;欺詐客戶行為表現(xiàn)及其民事責任[J];人民司法;2007年17期

4 ;證券公司定向資產(chǎn)管理業(yè)務實施細則(試行)[J];司法業(yè)務文選;2008年24期

5 若武,吳崗;千里大追蹤[J];黨風通訊;1999年01期

6 ;外資參股證券公司設立規(guī)則[J];中國證券監(jiān)督管理委員會公告;2002年06期

7 劉立新;李厚健;;“證券女俠”落敗記[J];廉政w

本文編號：1881393