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挪用客户交易结算资金是我国证券法律规范禁止的欺诈客户行为之一。我国证券公司面临融资渠道狭窄和开展业务资金需求大的矛盾,由于挪用行为容易操作,逃避责任的可能性大,使得我国证券市场上普遍存在挪用客户资金的行为,危害投资者的利益和证券市场的稳定。挪用客户交易结算资金的行为既构成违约行为,又构成侵权行为。我国立法对于挪用客户资金的责任历来采取严厉的态度,中国证监会《客户交易结算资金管理办法》及其通知采取限制资金运动和进行总额监控的手段,将事前防范和事后检查结合起来,以达到防止挪用的目的。
Misappropriation of customer transaction settlement funds is one of the fraudulent customer behaviors prohibited by the securities law of our country. Due to the narrow financing channels and the large capital needs, the securities companies in our country face the possibility of evading responsibility due to the easy operation and the evasion of responsibility. As a result, the misappropriation of customers’ funds is widespread in China’s securities market, endanger the interests of investors and the securities market Stable. Misappropriation of customer transaction settlement funds constitutes a breach of contract, but also constitute infringement. China’s legislation has always taken a stern attitude toward the responsibility of misappropriating customers’ funds. The CSRC’s Measures for the Management of Client’s Transaction Settlement Funds and its notices have adopted the means of restricting the movement of funds and monitoring the total amount, combining the precautionary measures and ex-post checks so as to achieve Prevent misuse.