The Study On The Legal Status Of Asset Management Association Of China

Asset Management Association of China(“AMAC”)was founded on June 6th 2012,according to the provisions of Securities Investment Funds Law(“Funds Law”)and Regulations on the Registration and management of Social Organizations.It is a national,industry-oriented,and non-profit social organization incorporated voluntarily by the several organizations in the securities investment funds industry.AMAC is subjected to the operational guidance,supervision,and management from the operational competent authority,China Securities Regulatory Commission(“CSRC”),Ministry of Civil Affairs of the People's Republic of China.As the AMAC moves frequently,the management of the private fund industry is increasingly stringent.Questioning voices to the AMAC are heard frequently.In May of 2016,someone had publicly questioned the power source of the AMAC.Moreover,someone pointed out that the self-discipline management power of the AMAC has major legal flaws and questioned whether the AMAC is the “fund industry associate” inferred in the Funds Law Article 108.The author intends to study the relationship between the Chinese government agencies and members of the AMAC through the exploration of the source of AMAC's power,taking the legal status of the AMAC as the focus.The paper is divided into five chapters.The author intends to study the relationship between the Chinese government agencies and members of the AMAC through the exploration of the source of power,taking the legal status of the AMAC as the focus.The first chapter is about the basic question.In the first chapter,through studying the establishment of a series of provisions,market reactions and questions,leads the core issue-What is the nature of the AMAC? Whether its function in the end is "self-administrate" or not? What is the source of power ? And to answer tehe questions about the qualifications of the AMAC.The second chapter is about the discussion on the source of power,including legal authorization,government's commission,members' agreement and self-authorization,for studying the nature of AMAC in the scope of administrative law.The third chapter is about the relationship between the AMAC and the Chinese government agencies.The author intends to confirm the independence of the AMAC by studying its establishment history,staff appointment and removal,fund raising management and business decision-making.The fourth chapter is about the relationship between the CSRI,the AMAC and the members.The author intends to discuss the relationships mentioned above by analysis and comparison of the system.The fifth chapter is the conclusion part.The author intends to summarize the discussion and analysis above,to define the legal status and role of the AMAC and to provide suggestions and advice.The significance of this paper lies in the following two aspects:Firstly,the author intends to clear the background and organizational structure of the AMAC.Through discussing the background and the purposes of the establishment of the AMAC,the designed functions and staff appointment and removal,fund-raising management,organizational structure,the author may clear the basic legal nature and legal status of the AMAC.Secondly,the author intends to analyze the source of power and the way to exercise power.From the perspective of the administrative licensing law,administrative organization law and the administrative subject of management,the legal status of the AMAC is further analyzed in the scope the jurisprudence.So as to clarify the power source of the industry organization,it is helpful to deconstruct the legal status of the AMAC and to lay a solid foundation for further combing the nature of the self-discipline management and to understand its advantages and limitations.Thirdly,the author intends intends to discuss the membership relationships.Through the analysis of management mode and management methods,the author discusses the boundaries of administrative supervision and self-discipline management from the theoretical point of view,and provides the theoretical basis for further establishing and perfecting the legal regulation system of the asset management industry selfdiscipline by clarifying the intervention of government power to capital market operation.So as to avoid unilateral positive or negative in the "self-discipline management organization" errors,and ultimately crackthe embarrassing situation of asset management fund "self-discipline managementslogan".The author hopesthat thepaper couldbe helpful to promote the perfection of asset management system.Currently,China's asset management system is facing many problems which need to be standardized,however,we should be optimistic to the situation.Under the background of economic transition,it is important to focus on capital market development and increase the perfection of the legal system.It is critical to optimize the investment environment and promote the development of local asset management environment.In this process,through the establishment of a sound rules of the system,creating a stable and orderly legal environment and healthy development of the capital market ecological environment,promoting the development of asset management industry,not only meet China's financial industry market investment in all types of investment needs,but also contribute to the realization of China's multi-level capital market prosperity and development.