Associate Professor
Supervisor of Master's Candidates
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Journal:Financial Theory & Practice
Key Words:debt financing instruments; trustee; trust legal relationship; trust industry law
Abstract:With the securities law of the people's Republic of China (hereinafter referred to as the Securities Law) clarifying the legal status and functional orientation of corporate bond trustee, the inter-bank market has also innovated and enriched the selection scope, trustee responsibilities and interest conflict prevention mechanism of debt financing instrument trustee through self-discipline rules. However, due to different legislative levels, there are obvious institutional differences between the trustee of debt financing instruments and the trustee of corporate bonds. The trustee of debt financing instruments still faces legal difficulties, such as difficulty in applying the securities law, difficulty in handling mortgage and pledge registration, difficulty in handling compulsory notarization, and being not a qualified litigation subject, In addition, there are still arguments about whether the trustee system is a trust legal relationship or a principal-agent legal relationship. In essence, China's cognition and recognition of the trust system is still in the development stage, and the necessity of trust industry legislation is gradually emerging. We should develop and optimize the trustee system by incorporating the scope of application of the securities law, multi sectoral cooperation, revising the trust law of the people's Republic of China, creating the trust industry law of the people's Republic of China and other systematic projects, so as to realize the unified standardization, supervision and management of trust relations in the financial field.
Indexed by:Journal paper
Volume:2022
Issue:06
Translation or Not:no
Date of Publication:2022-06-14
