Study On The Legal System Of Family Trust Supervision In China

As an ancient and important system, trust which is originated from the United Kingdom, is an important part of the Anglo-American legal system. After hundreds years’development, trust system is mature completely, and win a wide range of application in many countries because of its professional mode of operation, flexible institutional arrangements. Family Trust as a support system for modern wealth heritage trust, the trust industry is also a source of relatively successful return to exploration. Family trust system due to risks isolation,flexible inter -generation transfer, tax-avoidance features and good privacy to obtain rapid development, and Pingan Trust introduce the system into China first in 2013.To promote the vision of development in terms of the trust system will enable China’s financial services industry and the trust industry has made substantial progress.Family trusts and similar financial services products have sprung up like in China and conduct, but a lack of trust in the soil of Chinese society really can " easily " with" ism " can simply be transplanted family trust system it ? This is obviously not realistic. While from a functional point of view, of course, has a family trust on behalf of the international transfer of good assets, property isolation, tax- avoidance, security features and other advantages of privacy and flexibility. However, the current Chinese society is the lack of trust and cultural inheritance temporarily in the absence of the state, the family trust of these advantages in the short term is still difficult to play. In addition, from a regulatory point of view, neither the internal regulatory supervision of market access, regulatory operations, market exit regulation, or family trusts and external supervision, our current system there are still many gaps.For example, a family trust supervisor has a strong regulatory regime Family Trust practical in our country, " People’s Republic of China Trust Law" (hereinafter referred to as the Trust Law) in No related regulations. China’s " Trust Law" only in Chapter 6, Section 65, " the public trust," some of the provisions of the trust supervisor system, obviously referring here to the trust supervisor is confined to the public trust supervisor, and for other civil and commercial properties Trust lack of broad applicability.Integrated financial market risk, complexity and variability and other features, plus a huge amount of trust involved in family trusts and contracts longer contract term, the family trust products in the absence of such a regulatory effectiveness and systematic operations Indeed is not desirable.Explore and improve measures against product family trust is imperative for effective regulation can be a breakthrough in the following aspects. First, improve the "Trust Law" (2001), "Administer method of trust and investment corporation" (2007), "The trust company trust plans of assembled funds management method" (2007) and "The trust company net capital management approach" (2010), "a Act III rules "as the core of trust the legal system, the increase in the relevant laws of the family trust product regulatory provisions to accommodate the needs of the times; secondly, the family trust should trust the system itself features, analyzes the problems of family trust regulators Overseas experience combined with China’s current actual and integrated to meet our regulatory approach. Third, China’s family trust regulatory system should be simultaneous internal and external supervision, only in this regulatory approach, we can achieve a good regulation of all aspects of the family trust, and protect the legitimate rights and interests of the principal and the beneficiary.