policy risk contagion to trust products. Policy and legal risk the first performance in recent years some of the trust product itself is to avoid regulation 武汉大学三行情书

Trust investment: what are the risks of trust products We want you! The first 2016 Chinese Potter Rockefeller award officially started! Fund, insurance, securities and other financial institutions ability to manage information, which is better? Please click on the vote to select the strongest organization in your mind! Source: the first is the so-called gold network trust risk, for investors at the end of the investment trust, a basic concept of principal is scheduled to return. Trustee of the trust products "trust law" and "moral hazard" measures for the administration of trust and investment companies have provided the trustee must not take advantage of the trust property for their own interests and to fulfill the honest, trustworthy and cautious, effective management of the obligation to the beneficiary, but due to defects in the internal governance structure of natural and the lack of effective external supervision. Some of the trust and investment companies to take advantage of the trust property to seek their own interests, mainly in: one is the use of inappropriate related party transactions, carry out the interests of the actual controller, or cover the risk, or capital flight. The so-called improper related trade is not after the principal and the beneficiary, not full disclosure of information, not at a fair price, the trust property and the inherent property and the trust property, the inherent property and the trust property and related party and related party transactions. The two is that the trust property which exceeds the trust contract will be converted into the income of the trust investment company. The principal and the beneficiary are often mistakenly trust products is expected to yield to a fixed rate of return, some of the trust and investment companies to use this point to more than the actual income of the trust contract is the inherent property. Three is to misappropriate trust funds for investment. The risk of infection because of trust products across institutions across the market, the formation of a long chain of financial products, involving many stakeholders, which is easy to produce other players and market part of the credit risk, market risk, operational risk, legal risk, policy risk contagion to trust products. Policy and legal risk the first performance in recent years some of the trust product itself is to avoid regulation, the system defects of innovation and design out. Secondly, some trust products are based on land and financial revenue as a guarantee for credit enhancement. The policies and laws in these areas are not perfect, and it is easy to cause invalid and illegal guarantee. Once again, there are no laws and policies, and lack of supporting measures. The risk management technology of low trust companies issuing trust products to invest in the field is very wide, the investment is very flexible, but most of it is to use loans and equity investments in infrastructure and real estate development. A wide area of investment, investment flexibility, need professional knowledge and professional aspects of the risk management ability, trust and investment companies often lack of preparation, lack of experience. The lack of liquidity, which can not effectively disperse and transfer, according to the "measures" to hedge risk management of investment trust companies, trust and investment companies shall be issued by investment vouchers, vouchers, vouchers, revenue agency investment securities generation custody orders. This means that the existing trust beneficiary right can only be established by contract rather than trust beneficiary certificate

信托投资:信托产品有哪些风险 We want you!2016首届中国波特菲勒奖评选正式开始!基金、保险、券商等金融机构资管能力孰优孰强?请点击【投票】,选出你心中的最强机构!   来源:第一黄金网   所谓信托风险,是针对投资者在投资信托结束后,本金是否如期归还的一个基本概念。   信托产品   受托人的道德风险   《信托法》和《信托投资公司管理办法》都规定了受托人不得利用信托财产为自己谋利益,要对受益人履行诚实、信用、谨慎、有效管理的义务,但是由于公司内部治理结构天生的缺陷和缺少有效的外部监督,使得有些信托投资公司利用信托财产谋取自己的私利,主要表现在:   一是利用不当关联交易,对实际控制人进行利益输出,或者掩盖风险,或者抽逃资本金。所谓不当关联交易就是不经过委托人和受益人同意,不进行充分的信息披露,不以公平价格,将信托财产与固有财产、不同的信托财产、固有财产与关联方和信托财产与关联方进行交易。   二是将超过信托合同约定产生的信托财产收益化为信托投资公司的收益。委托人和受益人往往误将信托产品的预期收益率为固定收益率,一些信托投资公司就利用此点把超过信托合同的实际收益化为固有财产。   三是挪用信托资金进行投资。   风险传染   因为信托产品跨机构跨市场,形成了一个较长的金融产品链,涉及很多利益主体,很容易将其中一环的其他主体和市场产生的信用风险、市场风险、操作风险、法律风险、政策风险传染到信托产品。   政策法律风险   这首先表现在最近两年一些信托产品本身就是规避监管、利用制度缺陷进行创新而设计出来的。   其次是一些信托产品是以土地、财政收入作担保进行信用增级的。而政策和法律在这些方面的规定是不完善的,极易造成担保无效和非法。   再次是法律和政策没有规定,缺乏配套措施。   受托人风险管理技术低   信托投资公司发行的信托产品投资的领域非常广,投资的方式非常灵活,但大部分是以贷款和股权投资方式运用于基础设施、房地产开发。投资领域广,投资方式灵活,需要多方面的专业技术知识和专业的风险管理能力,信托投资公司往往准备不足,经验不够。   缺乏流动性,使之不能有效分散、转移、对冲风险   根据《信托投资公司管理办法》,信托投资公司不得发行委托投资凭证、代理投资凭证、收益凭证、有价证券代保管单。这意味着现有的信托受益权只能以合同而不是信托受益凭证方式成立,且不能标准化分割。信托合同的私募性质和200份限制,使得信托产品二级市场交易成本极高。现有的网上转让、银行质押贷款等转让方式无法满足流动性的需求。   信托产品缺乏流动性使得与其他金融产品缺少套利空间,也就是信托产品可以向其他金融产品套利,而其他金融产品无法向信托产品套利。这不利于信托产品的优化配置资源和价格发现,成为集聚风险的“洼地”。 进入【新浪财经股吧】讨论相关的主题文章: