摘要
近年来,中国私募股权基金“爆雷”事件频发,基于保护投资人和防范系统性金融风险的考虑,当从严监管私募股权基金。私募股权基金市场的基石是合格投资者制度,而欧美私募股权基金监管政策演变呈现“从虚就实”和从严监管的趋势。中国现行私募股权监管机制存在欠缺顶层设计、监管力量不足、监管思路需要改进等问题,建议通过以下路径实现对私募股权基金的全方位从严监管:通过立法完善私募股权基金监管的顶层设计,厘清私募股权基金的本质与特征,明确基金管理人的信托义务;将地方金融监管局引入现有监管体制并界定其监管权限和边界;对私募股权基金管理人实行审批制和金融牌照管理;进一步完善自律规范、行业执业标准和业务规范;通过制度创新,落实私募基金管理人的信托责任。
In recent years,private equity funds in China have experienced frequent“explosion”in⁃cidents.From the perspective of protecting investors and preventing systemic financial risks,private equity funds must be strictly supervised.The cornerstone of the private equity market is the qualified investor system.The evolvement of European and American private equity fund regulation policy shows the trend of“from the virtual to the real”and strict supervision.China’s current private equi⁃ty regulatory mechanism has some problems,such as lack of top-level design,lack of regulatory strength,and need to improve regulatory thinking.It is suggested to achieve all-round strict supervi⁃sion of private equity funds through the following approaches:Through legislation to improve the top-level design of the supervision of private equity funds,clarify the nature and characteristics of pri⁃vate equity funds,and clarify the fiduciary duties of fund managers;Introduce the local financial su⁃pervisory authority into the existing supervisory system and define its supervisory competence and boundary;The private equity fund manager shall be subject to the approval system and financial li⁃cense management;Improve the self-regulatory standards,professional standards and business standards further;Implement the fiduciary responsibility of private fund managers through system in⁃novation.
作者
裴亚洲
PEI Ya-zhou(Beijing University of Chemical Technology,Beijing 100029,China)
出处
《河北学刊》
CSSCI
北大核心
2020年第5期215-220,共6页
Hebei Academic Journal
关键词
私募股权基金
从严监管
路径
逻辑
private equity fund
strict supervision
approach
logic
