| Securities Investor Protection Fund attracts the attention from securities supervision authorities worldwide for it can dissolve the bankruptcy risks from Securities Corporation through compensating clients as well as supervise the fiscal situation, enhance the confidence of investors, maintain the resource of capital market. Since the establishment of《Securities Investor Protection Act 1970》, British, Japan, Germany, Hong Kong, and Taiwan island also established their own similar system, European Union enforced《Investor Compensation Plan》. In view of the practical benefit from this system, our country promulgated《Security Investors Protection Regulation》on June 30th 2005, the revised《Security Law》at the same also stipulated the establishment of securities investor protection fund.However, the improvement and development of securities protection fund is a fairly large project, from the perspective of the reality in China, the arrangement and relevant policy is not clear. Thus it is a real challenge for this system to function well in today's market.Follow the guidance stated above, this paper consists of four parts.The first part introduces the concept, features, history and significance of this system. On the basis of absorbing advanced stipulations in other countries, the author concludes the definition of securities investor protection fund.The second part displayed relevant legislation experience in USA, Canada and Hong Kong district and pick out the common ground and differences providing necessary materials for the improvement of this system in China.The third part analyses the background and main content of securities investor protection regulation in our country, pointing out the defects in the resource of the fund, the compensation procedure and supervision measures. The fourth part proposed positive actions to improve protection system: the fee collection measures, establishing specific compensation system, improving the management structure of Fund Corporation etc. |
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