Judgment Of The Responsibility Of The Trustee In The Financial Trust Channel Business

Channel trusts are not a type of trust stipulated by law,but an objective phenomenon formed by the spontaneous cooperation of relevant financial institutions in the development of financial markets.The development of China's trust industry is closely related to the rapid growth of channel business.Under the business model,trust is one of the financial sub-sectors and is managed by a trust company specializing in trust business.Because the trust can cross assets in the capital market and money market.The institutional advantage of management business is used by many commercial banks or other financial institutions as a carrier to break through the loan policy curve to invest in the real economy,thereby generating a large number of channel-based businesses.The channel trust business once became the pillar of the trust industry.However,the rights and responsibilities of the participating entities in this type of business are unclear,and the legal regulation is unclear,resulting in continuous accumulation of market risks and frequent crises.The basis for the establishment of the trust is the trust of the trustee to the trustee.The trustee is the core chain of the trust legal relationship.Because the trustee's obligations are related to the trustee's trust purpose and the beneficiary's interests are guaranteed,all countries will be entrusted in the form of legislation.Legalization of human obligations.The channel trust business is a spontaneous product of China's financial market.It is not within the presupposition of the law.The issue of trustee responsibility in such business has always been the focus of debates in the theoretical circle and judicial practice.In the Trust Law promulgated in 2001,The trustee's obligations have been strictly regulated.Article 25 stipulates the trustee's good management obligations,Articles 26,27,28 and 29 stipulate loyalty obligations,and Article 30 stipulates that the trustee personally manages the obligations and delegates Joint responsibility.However,in the channel business,the principal,the leading third party and the trustee may waive the above-mentioned substantive responsibility of the trustee by the trust document,and the leader of the trust project shall bear all the substantial risks in the operation of the trust plan and act as a channel.Trust companies only have transactional management responsibilities,but such agreements are clearly contrary to the provisions of the law,and the legality of the exemption of trustees in channel trusts has been controversial.The channel trust is objective.The trust company has no decision-making power and theright to speak.If you ignore this phenomenon,it is not conducive to the protection of the beneficiary's interests or the disadvantage of forcibly requiring the trustee to bear the obligation that does not conform to its duties.The transformation of the trust business.The vitality of the trust system is at a high degree of flexibility.Its development history is a history of self-renewal of rules and self-adjustment of theory according to the needs of practice.Now that the exemption of the fiduciary duty of the trustee in the channel trust industry has been accepted by the regulatory authorities,we should also re-examine the responsibility of the trustee in the channel trust based on the present,clearly define the responsibility of the trustee to resolve the channel trust.The key to a business risk crisis.This paper mainly studies the definition of the responsibility of the trustee in the channel trust business.Firstly,this paper starts with the basic concept of the channel trust,briefly introduces the type,development process and development status of the channel trust,with the most typical silver letter cooperation.The channel trust business is an example,which illustrates the redemption crisis caused by the channel trust in practice;secondly,on the basis of analyzing the trustee's obligation system and the channel trust trustee's actual performance obligations,the nominal channel trust business is distinguished.The statutory responsibilities of the trustee and the specific duties during the actual operation of the project shall not be transferred to the unreasonable circumstances of the strict liability.According to the judicial practice,on the basis of fairness,justice,power and responsibility,it is clear that the project leader bears the substantial risk responsibility,the trustee only assumes the transaction management responsibility as the channel party,and delegates the third party to assume the responsibility of the same trustee;In the need of judicial practice,it provides reasonable suggestions for the settlement of the disputes on the trustee of the channel business.Clarify the responsibility of the trustee and the project participants,change the strict liability of the trustee in the channel trust,and at the same time recommend the original source,re-establish the trust,promote the return of the trust,give investors a sense of security and confidence,and ensure the long-term healthy development of the capital market.