Research On China 's Securities Investor Protection Fund

Lack of securities investors’ rights and interests protection system is hinder the further development of securities market in China. Since1970,the United States investors protection fund was established,including Germany, Japan, Taiwan, Hong Kong and other overseas advanced capital market in China have been setting up the securities investor protection fund system. In order to promote the healthy and standardizing development of the securities market and protect the legitimate rights and interests of investors, with the measures for the administration of securities investor protection fund release, formally established the securities investor protection fund system in China. Based on our country’s securities investor protection fund system as the research object, analyses the system the main problems existing in the process of operation, with reference to foreign advanced experience and combining with the actual situation in our country, put forward the perfect proposal. In this paper, the text is divided into the following four parts:The first part is about the securities investor protection fund operation were summarized, and introducing the background of the securities investor protection fund in our country, expounding the protection fund operation pattern, to further expand the concrete system below make matting.The second part is the analysis of the securities investor protection fund legislation current situation, the regulations for the protection of fund is more dispersed, lower legislation level, recommendations issued regulations on the protection of the fund management as soon as possible, and should further develop the securities investor protection act.The third part is the analysis of the securities investor protection fund governance structure, that is dominated by the government of the board of directors governance model already can’t adapt to the new circumstances of the securities market, puts forward director should increase the securities operating institutions on behalf of, the proposal on behalf of the public, and suggested to introduce the director tenure system.The fourth part is about the securities investor protection fund compensation object, compensation range and range analysis, object for the current claims provided for in the case of incomplete further distinguish between individual investors and institutional investors, eliminate interested party; The lack of limit problem of the compensation standard, it is suggested that to distinguish the different situation, and piecewise compensation and set limit compensation for individual creditor’s right; To the problem of compensation range ambiguous scope of specific rule out Suggestions.