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谢伏瞻
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    2019年我国信托行业法律法规与监管环境研究报告

    摘要

    2019年以来,在“资管新规”框架下各资管子行业管理细则继续完善,信托行业顶层制度架构在完善中改革,信托行业定位及展业逻辑发生重大变化。房地产信托和信托通道业务在监管之下持续压降,信托的影子银行特征慢慢淡出,转向加强直接融资类业务的发展;信托文化逐渐渗透信托行业的方方面面,基于金融消费者保护的目标监管对受托人的适当性义务标准要求提高。监管政策的完善和改革使得信托行业站在了新一轮发展的起点上,传统业务将更加规范化发展,股权投资、标品投资以及服务信托等业务或将给信托行业带来新一轮的繁荣。

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    Abstract

    In the year of 2019,management regulations on asset management industry were released under the New Asset Management Guidelines made in 2018,also,the establishment of the top-level system of the China’s trust industry has been gradually improved. The role positioning of the trust industry have undergone significant changes. Under the regulating from The Banking and Insurance Regulatory Commission,the proportion of real-estate business and passageway business in the trust industry continues to decline. Trust culture has gradually penetrated into all aspects of the trust industry,and the obligation of appropriateness of the trustee has been greatly strengthened. New Interim Regulations on Trust Institute (draft for comments) make trust industry stands at the starting point of a new period of development. On the basis of more standardized development of traditional businesses,equity investment,standard investment and trust services will bring a new round of prosperity to the Trust Industry.

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    作者简介
    高斌:高斌 中国政法大学民商法学博士,加州大学伯克利分校访问学者。中建投信托研究创新部研究员。主要研究方向为证券法、信托法,专注于房地产投资信托基金(REITs)法律制度研究。曾在中电建华东院、兴业银行杭州分行投行部工作,曾在《经济法学评论》等刊物发表多篇文章。
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