Research Of Securities Investor Protection Fund In China

Securities investor protection fund is regarded as an important part of the investor protection system in terms of the Securities market, at the same time, it plays a significant role in preventing, resolving and dealing with financial crisis, protecting the interests of investors, and safeguarding the financial security, therefore, supervision authorities of various countries attach great importance to it. Since the establishment of Securities Investor Protection Act 1970, British,Germany,Hong Kong and Taiwan Island also established their own system of securities investor protection fund in succession, and then European Union enforced Investor Compensation Plan in 1997. In view of the practical benefit from this system, in June 2005, our country promulgated Security Investors Protection Regulation and Security Law revised in the end of 2005, which stipulate and establishment of securities investor protection fund. Since then, Securities investor protection fund of our country has appeared in the stage of capital market.However, system of securities investor protection fund just belongs to a kind of system innovation in our country, so it is not perfect in theory or in practice. With a view to the current securities legal regime of our country, based on the current situation of protecting investors' benefit in our country, by research of law, argumentation of theory, and analysis of securities investor protection fund system of U.S.A., Britain, Canada, Hong Kong, Taiwan etc. and learning experience from them, this thesis makes proposals that the function of securities investor protection fund of our country shall include the function of the economic compensation, confidence support and supervision, that the selection of organization mode really achieves the goal of protecting investor's interests but not just resemble foreign legislation in form, that members of the board of director of fund companies make official and unofficial to contend appropriately, that the fund origin should be expanded and expenses sharing question shall be completed in terms of the capital source, and that compensation target, range of compensation and the principle of the compensation limitation shall be made clear and a set of simple, high-efficient compensation procedures is formed in the compensation system of the protection fund.