Study Of Chinese Securities Investment Fund Regulatory Legal Issues

Securities Investment Fund is a kind of collection investment on concentrating funds, professional financial management, assembling investment and risk spreading of risk. On the one hand, it raises funds from investing publication by issuing fund shares; on the other hand, the funds SIF (Securities Investment Fund) collected will be invested to capital market in the way of professional financial management and risk diversification. Its unique advantage makes the constant developing growth and the important role it takes in the financial system. Simultaneously, we have preliminary established the legal system with the core of "Securities Investment Fund law" and by other concerned departmental rules and legislative documents. However, the lagging problem of laws and regulations is still very prominent, mainly express as follows: the imperfection of regulation system, the singleness of the fund organization form, the lack of protection of the investors, the narrow scope of the legislation and so on. I attempt to make the analysis of the aforementioned legal supervision issues by a comparative perspective between different countries, and anticipate giving some ideas and suggestions to perfect the legal supervision system and to amend our "Securities Investment Fund law".The text mainly separates into five parts. The first part is to address several legal measures to perfect our legal supervision system by international comparison of the legal system in other countries. The second part is to address suggestion to perfect contract funds system and co-fund system by the way of comparative analysis to fund organization. The third part is to address some suggestions to perfect the concerned legal system by analysis of related transaction and fund holders, in order to assure the interest of the fund holders. The forth part is some suggestions on how to standardize the development of private equity and the legislation of its supervision. The last part proposes some suggestions on the legislative supervision in the creation and standardization of Future Investment Fund. Among those five parts, the first three parts are to research some general issues about the legislation of the fund supervision. The rest two parts should be considered as special issues which remain for further discussion as the law referring to private investment funds and future investment fund has not yet been enacted.