Comparative Study On Trustee Duty Of Loyalty In Trust Law Between China And Japan

The establishment of the trust system is an important achievement of the legal system innovation in human society.Trust originated in England.The famous British legal historian and equity lawyer Maitland once pointed out,"if one wants to ask what is the greatest and most unique achievement made by the English in the field of law,it is the concept of trust developed over hundreds of years,I believe there is no better answer." In medieval English society,land was the main living property of the common people,and the system of primogeniture was strictly followed.In order to avoid various restrictions,the landowner entrusted the land to the trustee,who became the new owner to protect the rights and interests of his family.In 1921,the first trust company of China,China commercial trust company,was founded.In the following years,the trust company began to have certain development.After the founding of new China,China began to implement the centralized and unified planned economy system,and the trust no longer had a development environment.On October 4,1979,China international trust and investment corporation,the first trust company in new China,was founded.Since 2001,China has adopted the trust law of the People's Republic of China,the measures for the management of trust companies,the measures for the management of net capital of trust companies and the measures for the management of trust plans for pooled funds,forming a basic legal framework of one law and three rules.On September 19,2018,the due diligence guidance on fiduciary responsibilities of trust companies,formulated by China Trust Association,issued clear requirements on the operation behavior,fiduciary responsibilities and duties of Trustees of trust companies.Japan introduced the trust system at the end of Meiji,and made the trust law and trust industry law in 1922.As the first country in Asia to introduce trust into the civil law system,Japan has rich experience in this aspect,following the trust system of the common law system,it has carried out the localization transformation of trust.In 2006,the trust law was comprehensively revised,and the fiduciary duty of loyalty has been developed to a high degree.Due to the historical tradition of the law,the trustee's duty of loyalty in the trust law of China and Japan is similar to each other to a certain extent.However,with the development of the times and culture,the development of the trustee's duty of loyalty in the trust law of China and Japan also has its own characteristics.However,compared with the mature trust systems of other countries,China's trust system,and the industry chaos is growing.Therefore,the trust laws of various countries will regulate the behavior of the trustee.The trustee's duty of loyalty is a key part of the trustee's code of conduct,which plays an important role in the whole trust system.The purpose of this paper is to compare the trust law of the basic issues of a fiduciary duty of loyalty,learn from Japan's experience in the localization of trust by comparison and study of Chinese trust law in the existing problems on the question of a fiduciary duty of loyalty,author puts forward some Suggestions for the obligation of fidelity to the trust law legislation in China,to provide the reference for the development of the trust duty of loyalty system in China.