Research On The Protection Of The Right To Know Of Beneficiaries Of Commercial Trusts

Since the introduction of trust system in our country,on the obligation of the trustee trust vague legislation,the particularity of the trust relationship between the commercial trust beneficiary is often in a weak position,the trust the trust given to the trustee and beneficiary for trust,the trustee to manage the entrusted property by this,and the beneficiary enjoys the usufruct and liable to investment risk,the trustee,the disposition management of entrusted property using a variety of power makes the beneficiary can't protect their own rights and interests,in practice it is difficult to realize the theory of trustee need strictly in accordance with the instruction of the beneficiary and the purpose of the trust contract management of the trust property.Trust is known as one of the four pillars of finance,but compared with other financial industries in China,trust develops slowly and has weak theoretical research.In the road of China's economic development and transformation,trust industry is bound to provide strong support to the real economy and give play to the advantages of social capital flowing to social key areas.However,at present,trust laws and regulations do not protect beneficiaries' right to know.In the context of regular trust defaults,a number of trust thunder incidents occurred in 2019.In this context,it is necessary to fully realize that a sound financial system depends on the protection of trust beneficiaries,so as to inspire investors' confidence in the trust industry.In the "two-level relationship" of commercial trust,the information between the trustee and the trustor is asymmetric.The trustee tends to obtain more information in the market activities and has a dominant position,while the beneficiary entrusts the trustee to invest,which puts the beneficiary at a disadvantage in terms of information acquisition.Thisasymmetry of information will inevitably lead to the information dominant party to seek their own interests and harm the interests of the beneficiary.In addition to the introduction and conclusion,this paper consists of four parts.The first part--commercial trust beneficiary's right to know protection overview.This part explains the basic concept of commercial trust and its characteristics.Under the special mode of trust,the beneficiary and the trustee are bound to have conflicts of rights and obligations around the trust property.In the United Kingdom and the United States where trust has a long history and a large system,the focus is on protecting the beneficial right of the beneficiary and strictly regulating the performance of the trustee.In view of the inevitable conflict of interest between the beneficiary and the trustee,the effective and feasible plan is to solve this problem mainly through the duty of loyalty.On the value orientation of commercial trust,in order to pursue the purpose of economic interests,the efficiency value of trust property is the first choice to realize the purpose of trust and also reflects the basic spirit of trust principle.The second part--the analysis of the current situation of the protection of the commercial trust beneficiary's right to know.This part reflects that the right to know is the most important basic right of the beneficiary,and analyzes the poor protection of the right to know from many aspects by combining with the latest social hot issues or the authoritative precedents of the court.Because the trust contract has greater freedom of autonomy of will,the trustee usually USES the dominant position to exclude and restrict the beneficiary's right to know through unfair terms or to make the beneficiary's right to know fail through various means of bucking in practice.The third part--the system analysis of information disclosure to beneficiary protection.This chapter firstly points out that information disclosure is an important means to protect the right to know of the beneficiary,combining with the various commercial risks faced by the commercial trust beneficiary and the last risk bearer.Next,the paper sorts out the function and basic principles of information disclosure of commercial trust,and finally points out that the lack of current information disclosure standard is still serious,and the development of commercial trust standard should take the beneficiary's right to know as the starting point to improve the relevant legal standard of information disclosure.The fourth part--legal Suggestions on improving the protection of beneficiary's right to know.This part from our country's commercial trust administrative supervision in the construction of multi-level analysis of China's trust industry in regulatory difficulties and inspiration,the commercial trust beneficiary rights relief system put forward many Suggestions,analyses the beneficial right is infringed upon relief pattern in practice,to solve the problem of the localization of Chinese commercial trust,promote the development of trust industry.