The Research On The Access System Of Securities Investment Fund Market

Securities investment fund market is an integral part of the modern financial markets ,and have a major impact on the healthy development of the national economy. In order to overcome market congenital defect and ensure that the market orderly operate ,the reasonable market regulation is necessary. Setting and exerting the positive or negative rules around the market participants is one of the elements of Supervision, namely the implementation of the securities investment fund market access system,which is the organic component of the market supervision system. In view of market access being included by market regulation, the related theories of market can be as the origins of the market access.In economics,the public intrest theory ,regulatory capture theory and incentive theory ,are representative of the regulatory theoretical model.With the law as the perspective,market access reflects the division and distribution relationships of power and rights of the state and market player,and the same time ,it is the concret reflection that the law adjusts social relations and protects social order.The market access system of securities investment fund should include the legal system and specific rules,and the setter or exerter is the subject of the market access,the object being bound by rules is the object of the market access.The securities investment fund market of the United States and the United Kingdom,as the developed countries in fund field,has a certain typical significance.For their experience and the law in fund supervisionare relatively mature,it has practical significance that we draw on their experience and related system to Chinese fund market.Through studying and comparing,we can find the defect of domestic fund market access system,and suggest: improve market access legal system, perfect market access supervision system, rich fund types on the market, reduce the access threshold of fund managers and Category fund investors.