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近几年,作为第三类“中介性金融”的集合投资产品不断推陈出新,逐渐成了居民投资的重要手段。但我国由发行主体的监管机关进行分别监管的模式,导致许多法律性质相同的产品因适用不同规则而处于不平等的竞争环境之中,制约了市场的有效发展。而且市场上还存在许多处于灰色地带的集合投资产品,法律地位不明、业务缺乏基本规范,侵害投资者利益的案例屡见不鲜。2006年日本通过制定《金融商品交易法》,在原有金融商品的基础上导入了“集合投资计划”的概念,这为我国构建完整的集合投资产品体系,规范市场发展提供了一条可借鉴的思路,正式引入“集合投资计划”概念,整合现有集合投资产品类型,吸收关于集合投资产品的各部门规章等,制定统一的《集合投资计划法》,作为集合投资计划法律规制的基础性法律依据。
In recent years, as a third type of “intermediated finance” collection of investment products continue to emerge, and has gradually become an important means of investment residents. However, the supervisory system in which the main body of issuance is regulated separately leads to the fact that many products of the same legal nature are subject to unfair competitive conditions due to the application of different rules, which restrict the effective development of the market. Moreover, there are still many investment products in gray areas in the market. The legal status is unknown, the business lacks basic norms, and the cases that infringe the interests of investors are not uncommon. In 2006, Japan introduced the concept of “collective investment plan” on the basis of the original financial products through the formulation of the “Law on the Financial Instruments and Exchanges,” which provided a reference for our country to establish a complete system of collective investment products and standardize market development. , Formally introduce the concept of “collective investment plan”, integrate the existing collective investment product types, and absorb various departmental rules and regulations on collective investment products to formulate a unified “collective investment plan law” as the legal regulation of the collective investment plan Basic legal basis.