A Study On Some Legal Issues Of QDII

QDII ( also called Qualified Domestic Institutional Investors ) , is a transitional system that the qualified domestic institutional investors invest in foreign capital market by exchanging domestic currency and foreign currency under the situation of incomplete opening capital items. As a system arrangement for the investor to Go Out, QDII is an important part of the gradually opening-up market policy. Comparing with the QFII which has been carried out for years, the starting QDII is just in the fumbled phase in legal regulation of the qualified domestic institutional investors and custodian , and in the protecting of small and medium-sized investors' rights and interests. Under the successful experiences of some developed countries such as American and some new market countries and regions such as South Korea, India and Taiwan, this paper analyzes some legal problems of QDII with the methods of comprehensive, comparative and compound ways between law and economy, expecting to provide valuable advice for the completing of QDII system.The trade parts of the QDII includes the qualified domestic institutional investors , the custodian and normal investors. This article sets the QDII three trade parts as the investigated objects, including the supervision of the qualified domestic institutional investors; the supervision of the custodian; the protection of the investors' rights and interests. The first part analyzes the foreign exchange control, Anti-Laundering monitoring, supervision of the disclosure information by security company; the second part analyzes the mechanism of security investor compensation fund and the mechanism of the civil compensation responsibility; The third part analyzes the confliction that custodian take charge of the qualified domestic institutional investors meanwhile. By comparing with the commons and the differences between our country and other countries and regions, analyzing the relevant faultiness in the law of our country, using the reference of the successful experience of other countries and regions, we can select the advanced experience that fits our national situation and the security market, and expecting to provide corresponding suggestions for consummation of the QDII.