Research On The Protection Of Investors' Rights And Interests In My Country's Trust Private Equity Funds

The development of private equity funds can enrich China's capital market,improve the current situation that the proportion of indirect financing is too high,and promote economic development.At the same time,through the platform of private equity fund,small and medium-sized enterprises can break through the financing bottleneck and introduce advanced management mode to promote the development and growth of enterprises.With the accelerated development of private equity funds in China,trust private equity funds have gradually entered people's vision.With the promulgation of the measures for the administration of collective fund trust plans of trust companies,the measures for the administration of trust companies and the guidelines for the operation of private equity investment trust business of trust companies,the development of trust private equity funds has entered a fast lane.In the actual operation of trust private equity funds,there are many problems in trust private equity funds,resulting in the inability to protect the rights and interests of investors.Based on this,this paper studies the protection of investors' rights and interests of trust private equity funds in China,in order to improve the legal environment of trust private equity funds in China,better protect the legitimate rights and interests of trust private equity fund investors,and promote the development of private equity fund market.This paper mainly makes a systematic research from the legal perspective of investor protection,which is mainly divided into the following five parts:The first part is the introduction,which mainly introduces the research background and research purpose of this paper,the research status of domestic and foreign scholars on the investor protection mechanism in the operation of private equity funds,draws experience from it,provides reference for the writing of this paper,and also introduces the research methods of this paper.The second part is an overview of the theories related to the protection of investors' rights and interests of trust private equity funds,mainly defining the concepts of private equity funds,private equity funds,trust private equity funds and trust private equity fund investors,and comparing trust private equity funds with other forms of funds,This paper discusses the characteristics of corporate private equity funds and partnership private equity funds,analyzes the differences between the three types of private equity funds,and analyzes the necessity of protecting the rights and interests of investors in trust private equity funds.The third part analyzes the defects of China's limited partnership private equity investment fund in right mechanism,restraint mechanism,incentive mechanism and responsibility mechanism,which makes the rights and interests of limited partners unable to be protected.The fourth part analyzes the deficiencies in the protection of investors' rights and interests in trust-based private equity funds in my country,which are specifically divided into four aspects: the deficiencies of information disclosure,specifically the lack of pertinence of relevant content related to the investor's right to know,and information disclosure.The content and time are not standardized,and the legal responsibility for breach of the information disclosure obligation is not clear;the lack of trust company fiduciary obligations,specifically the lack and disorganization of fiduciary obligations,the lack of specific judgment standards for fiduciary obligations;the withdrawal mechanism of trust-based private equity funds Imperfect;failure of external supervision powers and responsibilities.The fifth part puts forward specific suggestions for improvement in view of the existing problems.First of all,it is necessary to protect investors' right to know information,to concretely deal with the relevant content of investors' right to know information,to clarify the content and time of information disclosure and the legal responsibility for breach of obligations;secondly,to improve trust companies' fiduciary obligations and integrate relevant laws and regulations.Clarify specific criteria;improve exit mechanisms,especially exit methods such as IPO,repurchase,and liquidation;build a diversified external regulatory system,and integrate administrative supervision and industry self-regulation.