The Rights Protection Of The Pledger In Stock Pledge Repurchase

Compared with the state financial authority,civil society and private right rules play a more positive role in promoting the development of China's financial market.The development of financial securities market and rights securitization is inseparable from the protection of the rights of securities investors.Improving investor rights protection system is an important premise to promote the continuous development and innovation of China's financial market.Taking stock pledged repo transactions as the breakthrough point,analyzes several representative of the securities firm shares pledged repo business protocols as sample,through the introduction of the process of stock collateral repo trading,trading main body,such as the rights and obligations of contrastive analysis in this commercial format of the contract rights and obligations between the pledgor and the pledgee division is not reasonable.For example,the pledgee's right of compulsory liquidation is too large,which infringes the pledgor's right to supplement the collateral.The pledgee has not fully fulfilled the obligation of notification thus violating the pledgor's right to know;When exercising the right of repurchase request in advance,the pledgee has insufficient proof of the relationship between the risk event and the pledgor's performance capability.Combined with the existing laws and regulations,the author puts forward some Suggestions to improve the protection of the pledgor's rights in the existing stock repurchase agreement with pledge,so as to provide reference for the development of the securities rights system for investors.