导　　师： 官欣荣

学科专业： 030105

授予学位： 硕士

作　　者： ;

机构地区： 华南理工大学

摘　　要： 私募基金是指基金发起人通过向具有特定资格的特定对象，非公开发行基金份额，募集资金，形成独立的基金财产，由基金管理人管理、以资产组合方式进行证券或其他投资项目的投资而设立的投资基金。目前，在我国私募基金仍获得未能直接取得合法地位，虽然《证券投资基金法》在附则中写入了“向特定对象募集资金或者接受特定对象财产委托从事证券投资活动”的集合投资方式，其意与私募基金基本相同，但仍未给出具体的规定。在证券投资基金立法审议的过程中，私募基金合法化的问题越来越受到学界的普遍关注和研究，成为我国证券市场上最令人关注的问题之一。因此，借鉴域外发达国家或地区的私募制度构建我国私募基金有关法律制度尤为必要。美国是证券私募法律制度的发源地且发展最为完善，越来越多的国家纷纷引为借鉴，其私募法律制度是一个由国会立法、SEC/(证券交易委员会/)规章以及法院判例等组成的复杂规范体系，尤其是美国2010年颁布了最新的金融法案全称为《2010年华尔街改革和消费者保护法》（简称为《多德-弗兰克法案》）。该法案构成美国最大规模的金融监管改革，其第四部分专门针对私募基金建立了若干监管规则，该部分又称为《2010年私募基金投资顾问注册法案》（简称《注册法案》）。严格了私募基金的注册制度、信息报告制度、客户账户托管制度等，补充完善了前述此前大法律欠缺之处。日本及我国台湾地区在借鉴美国证券私募法律制度方面颇为成功，这为我国相关法律制度的发展提供了有益的经验。 本文将着重研究私募基金的法律界定、合法化途径和有效法律监管等问题，借鉴国外法律制度，探求我国私募基金法律框架。文章正文主要包括以下五个部分: 第一部分，就论文选题背景、文献综述、研究目标、研究方法作分析、介绍； 第二部分，私募基金相关概念、发展情况及我国私募基金合法化的意义； 第三部分，境外（尤其是美国）私募基金法律制度； 第四部分，我国私募基金制度现状及存在的问题分析； 第五部分，构建符合我国国情的私募基金制度框架。本部分结合我国的具体国情，对未来我国的私募基金立法的立法路径和法律制度核心问题进行了剖析。 Private equity fund sponsors through a specific object with specific qualifications,non-public offering of Fund shares to raise funds, independent fund property managed by thefund managers, portfolio investment in securities or other investment projects theestablishment of investment funds. Present, the private equity fund in China have not beenable directly to the legal form of the emergence of Securities Investment Fund Law 'writtenin the Annex to the specific object is to raise funds or accept a particular object propertyentrusted to invest in securities activities, a collection of investment its meaning is basicallythe same with private equity funds, but have not given specific provisions. In the process oflegislative consideration of the securities investment fund, the issue of the legalization ofprivate equity funds more and more academic attention and research, one of the most concernin China's securities market. So, learn from the private system of extraterritorial countries orregions are particularly necessary to build our private equity funds related to the legal system.The United States is the birthplace of the private placement of securities legal system and themost perfect development, more and more countries have been cited as a draw, the privatelegal system is a complex specification of a legislation by Congress, the SEC /(Securities andExchange Commission/) regulations, and court decisions, etc. system, particularly the latestFinance Act was enacted in2010the whole known as the2010Wall Street Reform andConsumer Protection Act /(referred to as the 'Dodd-Frank Act'/). The bill constitutes thelargest U.S. financial regulatory reform in the fourth section is devoted to a number ofregulatory rules for private equity funds, that part is also known as private equity fundinvestment adviser registration Act2010/(the 'Act'/). Strict registration system of the privateequity fund of information reporting system, the customer account, the trusteeship system,and complements the aforementioned previously legal gaps. Japan and Taiwan, China to learnfrom the U.S. Securities and private legal system is quite successful, provide a usefulexperience for China's legal system. This article will focus on the private equity fund legal definition of legalization approachand effective legal and regulatory issues, foreign legal system, and explore the legalframework of China's private equity fund. The article text includes the following five parts: The first part, on topics of background, literature review, research objectives, researchmethods, introduction; The Second part, the related concepts of private equity funds, development andsignificance of legalization of private fund; The third part, foreign /(especially U.S./) private equity fund legal system; The Fourth part, the status quo of China's private equity fund system and the problems; The fifth part, the private equity institutional framework to build China's condition.This part of China's specific national conditions, analysis of future legislative path of China'sprivate equity fund legislation and legal systems of the core issue.

关 键 词： 私募基金 合法化 法律制度

分 类 号： [D922.287 F832.51]

领　　域： [政治法律] [政治法律] [经济管理]