The National Social Security Fund Market Risk Control System Research Of Law

In 2015,according to relevant personage to disclose the national social security fund in the market years investment yield could reach 16%,there is no doubt that since the national social security fund in the market,has made gratifying achievements,but is happy with sorrow,due to the fund in the process of market risk,the national social security fund losses of up to 17.5 billion,2015,the national social security fund market risk control is a long way to go.The national social security fund as necessity of the people,must be on the premise of safety in the process of funds into the market,with the value as the goal.Any investment activity,however,there are risks,won't because of the particularity of the national social security fund and passion.Therefore,how to control the risk of the national social security fund investment in research has very important reality and necessity.On May 1,2016 of the national social security fund ordinance on the research of the paper has a guiding significance.First of all,the regulations of the national social security fund source,function of them is clearer.Second concrete of the regulations,the national council for social security fund,fund investment manager,fund custodian of the three main body,the specific duties of standard operation of the fund,which laid a foundation for funds in the market operation.Finally,and the regulation of eyeball,is the social security fund market risk control system has provided a legal basis.For social security fund investment in the study of the risk is a systematic project,which can't happen overnight,it is impossible to once and for all.Should first analyze the social security funds into the market risks,in general,the social security fund market risk can be divided into two major categories of system risk and non-system risk.Systematic risk is mainly affected by a country's political and economic risks arising from the systematic risk is also known as immutable risk,normally it is difficult to controlled through legal means.The systemic risk is the risk in addition to systemic risk,risk can be controlled through legal means.Unsystematic risk is divided into:risk because of the legal system is not sound;Because of the national social security fund ordinance and the interim measures for the national social security fund investment management regulations lack of risk,including the social security fund assets of independence,the social security fund asset allocation,risk;Of risk as a result of poor supervision,poor regulation phenomenon of specific performance in the presence of multiple management of the regulators,the lack of independent regulators,imperfect information disclosure system in three aspects;Because of the principal-agent relationship between complex risk,including institutional risk,risk of adverse selection and moral hazard.Through the above from the aspects of legislation,regulation,and layer principal-agent relationship of risk analysis,can lay a foundation for the fund market legal risk control measures.Followed by introduces the current legislative regulations on social security funds into the market and shortage of place.And analyses the social security fund assets on the independence of law,and analyzed the current legislation of social security fund assets independence rules and deficiency,including not explicitly stipulated in the law of social security fund assets not included in the liquidation property,to offset the liabilities,and apply for compulsory execution.And then analyzes the relevant legal provisions of the social security fund asset allocation,puts forward did not explicitly stipulated in the law the social security fund asset allocation,the amount of asset allocation standard.Finally put forward the social security fund legal control of market risk.Aiming at the shortcomings of the current legislation of social security fund,to perfect the social security fund puts forward the legal system,perfect the rules of the social security fund asset allocation,perfecting the social security fund assets independence rules such as legislative Suggestions.Aiming at the existence of the social security fund regulatory risk,this paper first introduces the supervision model of social security fund investment abroad,and then through using the supervision model of social security fund investment abroad,combined with the special national conditions of our country,puts forward to establish the board of the national social security fund and formulate a series of regulatory documents to ensure the social security fund supervision of normal operation,and puts forward to strengthen the supervision of fund investment manager and custodian,put forward and set up strict information disclosure system of social security funds into the market supervision "escort".Aiming at the existence of the social security fund in the principal-agent risk,put forward to strengthen the fund investment manager of market competition,improve the incentive system,establishing risk compensation mechanism and establish loss accountability suggested that control the principal-agent risk.These measures can effectively prevent the legal risks,realize the value of funds.