《国务院关于支持资本市场进一步健康发展若干意见》中指出,“在风险可控前提下,逐步优化证券公司客户交易结算资金存管制度”。近期,有市场人士由此提出要改变现有的证券公司客户资金第三方存管制度(以下简称“第三方存管”),由证券公司进行独立存管。实际上,证券公司综合治理之前,证券公司客户资金即实行的是独立存管。但事实证明,独立存管为证券公司挪用客户资金提供了方便之门,诱发了行业的系统性风险。正是汲取之前的经 “The State Council on Several Suggestions for Supporting the Further Healthy Development of the Capital Market” pointed out that “under the control of risks, the depository system of trading settlement funds for securities companies should be gradually optimized.” Recently, some market participants proposed to change the third-party custody system of the existing securities companies’ client funds (hereinafter referred to as “third-party depository”), and the securities companies should independently deposit their funds. In fact, before the comprehensive treatment of securities companies, securities companies that customers are implementing an independent depository funds. However, it has turned out that the independent deposit provides a convenient way for securities companies to misappropriate their clients’ funds and induce systemic risks in the industry. It is learned from the previous