我国金融控股公司法律问题研究
内 容 摘 要
从整个世界范围来看，混业经营已经成为国际金融业的发展趋势。在我国，基于安全的考虑，金融业仍然坚持分业经营的方针，但与此同时诸如中信、光大、平安保险等金融控股公司已经出现，并成为我国从分业经营走向混业经营的一个现实选择。这是因为金融控股公司本身坚持“集团混业，法人分业”的方针，既能实现混业经营的效率性，又能保证分业经营的安全性。但需指出的是，目前我国尚未制定有关调整和规范金融控股公司的法律规范，鉴此如何明确金融控股公司的法律地位并对其所存在的风险等进行有效规制，则值得作深入研究。
本文分为四个部分。第一部分“金融控股公司的内涵及法律特征”。基于金融控股公司为控股公司的表现形态之一，本文从控股公司的界定入手，阐释了金融控股公司的定义及其法律特征。第二部分“国外金融控股公司的实践及对我国的借鉴意义”。本文分别介绍了美国、英国、日本等国金融控股公司的实践，从中分析出对我国金融控股公司构建的借鉴意义。第三部分“我国金融控股公司的模式选择”。我国法律尽管尚未对金融控股公司作出明确定位，但现实生活中已经存在一些金融控股公司，本文通过对我国现存金融控股公司的利弊分析，并结合我国的具体国情，提出了我国金融控股公司的组建模式。第四部分“我国金融控股公司的风险控制”。金融控股公司并非完美无缺的制度设计，在具有较大的经营优势的同时，也存在较大的经营风险，主要表现为资本不充足、不正当内部交易等风险。针对其所面临的风险，本文提出了具体控制风险的对策。
关键词：控股公司 金融控股公司 风险控制
ABSTRACT
Mixed operation has been the trend of international financial industry in whole world. Financial industry still holds the policy of separated operation on the basis of national security. But the financial holding companies such as CITIC、Ever Bright and Safe Insurance, emerge and become a choice from separated operation to mixed operation in our country. The financial holding company itself insists on the policy of “the mixed group, the divided legal person”, so it can not only realize the efficiency of mixed operation, but also keep the security of separated operation. But there is no laws and regulations that adjust and standardize the financial holding company at present in China, it is worth further study about how to define the legal status of financial holding company and control its risks.
This thesis is divided into four parts. The first part introduces “the intension and legal characteristics of financial holding company”. Because the financial holding company is one of the forms of holding company, the thesis begins with the definition of holding company, and then explains the definition and characteristics of financial holding company. The second part introduces “financial holding companies in foreign countries and how to use their experiences for reference”. The thesis talks about practice of financial holding company in America、Britain and Japan. Then it gives us some advice about setting up financial holding company in China. The third part introduces “the mode selection of financial holding company in our country”. Though the financial holding company is not clearly defined in our laws and regulations, there are some financial holding companies in our life. According to national conditions, the thesis proposes the set-up mode of our financial holding company from analyzing its advantages and disadvantages. The fourth part
introduces “risk controlling about financial holding company”. The design of financial holding company is not perfect. Although it has advantages, there are more risks, for example insufficient capital and improper inside trade. As to such risks, the thesis puts forward some suggestions about controlling them.
Key words: Holding company Financial holding company Risk controlling
引言
引 言
1999年11月12日，美国《金融服务现代化法案》正式签署生效，允许商业银行、证券公司、保险公司跨业经营，这标志着金融分业的创始者——美国终于在世纪之交废弃了分业经营，实行混业经营。在此之前，实行金融分业经营的几个大国，如英国、日本等都纷纷进行了“大爆炸”（Big Bang）式的金融改革，逐步实现了混业经营。金融业混业经营已成为新世纪全球金融业发展的四大趋势之一。随着我国金融市场的全面开放，国内金融机构无法回避与国外全能化的金融机构激烈的业务竞争。显然，尽早对我国金融机构实施金融控股公司制改革，不失为增强我国金融业竞争力的明智选择。[1]在现阶段，可以借鉴国外混业经营的经验，在规范监管的前提下，通过设立金融控股公司来推动金融业创新，从而提高金融机构的经营效率和竞争力。鉴此，以下本文拟就金融控股公司的有关问题作些探讨。
[1]
冯静生：《论我国金融控股公司的发展》，《金融理论与实践》2004年第4期。
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