證券投資基金法中英文對照教材TextbookonSecuritiesInvestmentFundLaw(Chinese-English)1.引言（Introduction）《中華人民共和國證券投資基金法》（以下簡稱《基金法》）是規(guī)范證券投資基金活動的基本法律，旨在保護(hù)基金份額持有人及相關(guān)當(dāng)事人的合法權(quán)益，促進(jìn)基金業(yè)健康發(fā)展，維護(hù)證券市場秩序。作為中國資本市場的重要基礎(chǔ)性法律，其立法與修訂貫穿了“規(guī)范運(yùn)作、防范風(fēng)險、保護(hù)投資者”的核心邏輯。The*SecuritiesInvestmentFundLawofthePeople'sRepublicofChina*(hereinafterreferredtoasthe"FundLaw")isthefundamentallawregulatingsecuritiesinvestmentfundactivities.Itspurposeistoprotectthelegitimaterightsandinterestsoffundshareholdersandrelevantparties,promotethehealthydevelopmentofthefundindustry,andmaintaintheorderofthesecuritiesmarket.AsanimportantbasiclawofChina'scapitalmarket,itslegislationandamendmentrunthroughthecorelogicof"standardizingoperations,preventingrisks,andprotectinginvestors."2.立法背景與修訂歷程（LegislativeBackgroundandAmendmentHistory）2.1立法背景（LegislativeBackground）20世紀(jì)90年代，中國證券投資基金業(yè)起步，為規(guī)范市場行為、防范系統(tǒng)性風(fēng)險，2003年10月28日，第十屆全國人大常委會第五次會議通過《基金法》，自2004年6月1日起施行，成為基金業(yè)的“基本法”。2.2修訂歷程（AmendmentHistory）2012年修訂：適應(yīng)私募基金快速發(fā)展需求，將私募基金納入監(jiān)管框架；強(qiáng)化基金管理人職責(zé)；完善投資者保護(hù)制度。2015年修正：調(diào)整基金管理人注冊資本要求；簡化公募基金注冊程序；加強(qiáng)信息披露監(jiān)管。2012Amendment:Toadapttotherapiddevelopmentofprivateplacementfunds,bringprivateplacementfundsintotheregulatoryframework;strengthentheresponsibilitiesoffundmanagers;improveinvestorprotectionsystems.2015Revision:Adjusttheregisteredcapitalrequirementsforfundmanagers;simplifytheregistrationprocessforpublicofferingfunds;strengtheninformationdisclosuresupervision.3.核心框架與適用范圍（CoreFrameworkandScopeofApplication）3.1核心框架（CoreFramework）《基金法》共12章151條，核心框架包括：總則（GeneralProvisions）基金管理人（FundManagers）基金托管人（FundCustodians）基金的募集（FundRaising）基金份額的交易、申購與贖回（Trading,SubscriptionandRedemptionofFundShares）基金的運(yùn)作與信息披露（FundOperationandInformationDisclosure）基金合同的變更、終止與基金財產(chǎn)清算（Change,TerminationofFundContractandLiquidationofFundAssets）基金份額持有人權(quán)利及其行使（RightsofFundShareholdersandTheirExercise）監(jiān)督管理（SupervisionandAdministration）法律責(zé)任（LegalLiability）附則（SupplementaryProvisions）TheFundLawconsistsof12chaptersand151articles,withthecoreframeworkincluding:GeneralProvisionsFundManagersFundCustodiansFundRaisingTrading,SubscriptionandRedemptionofFundSharesFundOperationandInformationDisclosureChange,TerminationofFundContractandLiquidationofFundAssetsRightsofFundShareholdersandTheirExerciseSupervisionandAdministrationLegalLiabilitySupplementaryProvisions3.2適用范圍（ScopeofApplication）公募基金（PublicOfferingFunds）：向不特定對象募集或向特定對象募集且人數(shù)超過規(guī)定數(shù)量的基金，適用《基金法》全部條款。私募基金（PrivatePlacementFunds）：向特定對象募集且人數(shù)不超過規(guī)定數(shù)量的基金，適用《基金法》關(guān)于私募基金的特別規(guī)定。除外情形：社會保險基金、企業(yè)年金等養(yǎng)老基金的管理與運(yùn)作，不適用《基金法》。PublicOfferingFunds:FundsraisedfromunspecifiedobjectsorfromspecifiedobjectswiththenumberexceedingtheprescribedlimitshallapplyallprovisionsoftheFundLaw.PrivatePlacementFunds:FundsraisedfromspecifiedobjectswiththenumbernotexceedingtheprescribedlimitshallapplythespecialprovisionsoftheFundLawonprivateplacementfunds.Exclusions:Themanagementandoperationofsocialinsurancefunds,enterpriseannuitiesandotherpensionfundsshallnotapplytheFundLaw.4.主要制度解析（AnalysisofKeySystems）4.1基金管理人制度（FundManagerSystem）4.1.1資質(zhì)要求（QualificationRequirements）公募基金管理人：需為依法設(shè)立的公司或合伙企業(yè)，具備下列條件：（1）符合國務(wù)院證券監(jiān)督管理機(jī)構(gòu)規(guī)定的注冊資本；（2）有符合要求的從業(yè)人員（如取得基金從業(yè)資格）；（3）有完善的內(nèi)部治理結(jié)構(gòu)和風(fēng)險控制制度。私募基金管理人：需向基金業(yè)協(xié)會備案，具備相應(yīng)的資本實力和風(fēng)險管理能力。(1)HaveregisteredcapitalasprescribedbythesecuritiesregulatoryauthorityundertheStateCouncil;(2)Havequalified從業(yè)人員(e.g.,obtainingfundpracticequalifications);(3)Havesoundinternalgovernancestructuresandriskcontrolsystems.PrivatePlacementFundManagers:ShallregisterwiththeFundIndustryAssociationandhavecorrespondingcapitalstrengthandriskmanagementcapabilities.4.1.2禁止行為（ProhibitedActs）基金管理人不得從事下列行為：（1）挪用基金財產(chǎn)；（2）不公平對待不同基金財產(chǎn)；（3）利用基金財產(chǎn)為本人或他人謀取不正當(dāng)利益；（4）泄露因職務(wù)便利獲取的未公開信息。Fundmanagersshallnotengageinthefollowingacts:(1)Embezzlefundassets;(2)Treatdifferentfundassetsunfairly;(3)Usefundassetstoseekimproperbenefitsforthemselvesorothers;(4)Disclosenon-publicinformationobtainedthroughofficialduties.4.2基金托管人制度（FundCustodianSystem）4.2.1職責(zé)定位（ResponsibilityOrientation）基金托管人負(fù)責(zé)安全保管基金財產(chǎn)，監(jiān)督基金管理人的投資運(yùn)作，確?；鹭敭a(chǎn)獨(dú)立于管理人、托管人的固有財產(chǎn)。Fundcustodiansareresponsibleforsafelykeepingfundassets,supervisingtheinvestmentoperationsoffundmanagers,andensuringthatfundassetsareindependentofthe固有assetsofmanagersandcustodians.4.2.2資質(zhì)要求（QualificationRequirements）基金托管人需為符合條件的商業(yè)銀行或其他金融機(jī)構(gòu)，具備：（1）足夠的資本實力；（2）完善的托管業(yè)務(wù)流程；（3）嚴(yán)格的風(fēng)險控制體系。(1)Sufficientcapitalstrength;(2)Soundcustodianbusinessprocesses;(3)Strictriskcontrolsystems.4.3信息披露制度（InformationDisclosureSystem）4.3.1披露要求（DisclosureRequirements）基金管理人、托管人需向投資者充分披露基金的運(yùn)作情況，包括：定期報告：年度報告、中期報告、季度報告；臨時報告：重大事項（如基金管理人變更、重大投資損失）。Fundmanagersandcustodiansshallfullydisclosetheoperationofthefundtoinvestors,including:PeriodicReports:Annualreports,interimreports,quarterlyreports;TemporaryReports:Majorevents(e.g.,changeoffundmanager,majorinvestmentlosses).4.3.2披露原則（DisclosurePrinciples）信息披露需遵循“真實、準(zhǔn)確、完整、及時、公平”原則，不得有虛假記載、誤導(dǎo)性陳述或重大遺漏。4.4投資者保護(hù)制度（InvestorProtectionSystem）4.4.1份額持有人權(quán)利（RightsofShareholders）基金份額持有人享有下列權(quán)利：（1）分享基金財產(chǎn)收益；（2）參與分配清算后的剩余基金財產(chǎn)；（3）召開份額持有人大會；（4）監(jiān)督基金管理人、托管人的運(yùn)作。Fundshareholdersenjoythefollowingrights:(2)Participateinthedistributionofremainingfundassetsafterliquidation;(3)Conveneashareholders'meeting;(4)Supervisetheoperationoffundmanagersandcustodians.4.4.2維權(quán)途徑（RightsProtectionChannels）投資者若認(rèn)為自身權(quán)益受到侵害，可通過以下途徑維權(quán)：向基金管理人、托管人投訴；向基金業(yè)協(xié)會或證券監(jiān)督管理機(jī)構(gòu)舉報；向人民法院提起訴訟。Ifinvestorsbelievetheirrightsandinterestsareinfringed,theymayprotecttheirrightsthroughthefollowingchannels:ReporttotheFundIndustryAssociationorsecuritiesregulatoryauthority;Filealawsuitwiththepeople'scourt.5.法律責(zé)任體系（LegalLiabilitySystem）5.1行政責(zé)任（AdministrativeLiability）基金管理人違法：如挪用基金財產(chǎn)，責(zé)令改正，沒收違法所得，并處違法所得1倍以上5倍以下罰款；情節(jié)嚴(yán)重的，取消基金管理人資格。基金托管人違法：如未履行托管職責(zé)，責(zé)令改正，給予警告，并處以罰款；情節(jié)嚴(yán)重的，取消托管資格。ViolationsbyFundManagers:Forexample,embezzlingfundassets,orderrectification,confiscateillegalgains,andimposeafineof1to5timestheillegalgains;ifthecircumstancesareserious,revokethefundmanagerqualification.ViolationsbyFundCustodians:Forexample,failingtoperformcustodianduties,orderrectification,giveawarning,andimposeafine;ifthecircumstancesareserious,revokethecustodianqualification.5.2民事責(zé)任（CivilLiability）基金管理人、托管人因違法違規(guī)行為給投資者造成損失的，需承擔(dān)賠償責(zé)任。例如，信息披露虛假導(dǎo)致投資者損失的，管理人、托管人應(yīng)連帶賠償。5.3刑事責(zé)任（CriminalLiability）對于嚴(yán)重違法犯罪行為，如詐騙投資者資金、挪用基金財產(chǎn)構(gòu)成犯罪的，依法追究刑事責(zé)任。Forseriousillegalandcriminalacts,suchasdefraudinginvestors'fundsorembezzlingfundassetsthatconstituteacrime,criminalliabilityshallbepursuedinaccordancewiththelaw.6.實施意義與展望（ImplementationSignificanceandProspects）6.1實施意義（ImplementationSignificance）規(guī)范市場秩序：明確基金各方主體的權(quán)利義務(wù)，遏制違法違規(guī)行為，維護(hù)證券市場穩(wěn)定。保護(hù)投資者權(quán)益：通過信息披露、份額持有人權(quán)利保障等制度，增強(qiáng)投資者信心。促進(jìn)行業(yè)發(fā)展：為基金業(yè)創(chuàng)新提供法律框架，推動公募與私募基金協(xié)同發(fā)展。StandardizeMarketOrder:Clarifytherightsandobligationsofallpartiesinthefund,curbillegalacts,andmaintainthestabilityofthesecuritiesmarket.ProtectInvestorRights:Enhanceinvestorconfidencethroughsystemssuchasinformationdisclosureandshareholderrightsprotection.PromoteIndustryDevelopment:Providealegalframeworkforfundindustryinnovationandpromotethecoordinateddevelopmentofpublicandprivateplacementfunds.6.2未來展望（FutureProspects）隨著中國資本市場的深化改革，《基金法》需進(jìn)一步完善：適應(yīng)新業(yè)務(wù)形態(tài)：如ETF、REITs等創(chuàng)新產(chǎn)品的監(jiān)管規(guī)則；加強(qiáng)跨境監(jiān)管：應(yīng)對基金業(yè)國際化趨勢，完善跨境基金監(jiān)管合作；強(qiáng)化投資者保護(hù)：建立更便捷的維權(quán)機(jī)制，如小額糾紛快速解決通道。WiththedeepeningreformofChina'scapitalmarket,theFundLawneedstobefurtherimproved:AdapttoNewBusinessForms:RegulatoryrulesforinnovativeproductssuchasETFsandREITs;StrengthenCross-BorderSupervision:Respondtotheinternationalizationtrendofthefundindust