On Fiduciary Duty Of Insurance Institutional Investors

In recent years,in order to optimize the allocation structure of insurance funds and promote the long-term stable and healthy development of the capital market,the China Insurance Regulatory Commission and relevant regulatory authorities have gradually increased the insurance policy investment policy of insurance institutions.Many insurance institutions have changed their traditional businesses and actively carry out financial business such as insurance,wealth management,investment,etc.,and be active in the capital market as a financial institution.However,in the process,some insurance companies used insurance funds to quickly buy and sell listed company stocks,frequently advertise shares,and madly pursue short-term interests.Among them,the "Baowan dispute" was the most typical.The "Baowan dispute" reflects the existing financial supervision laws in China,which have insufficient supervision of insurance funds,only external the “hard supervision” model,which is regulated by the regulatory body such as the China Insurance Regulatory Commission,This is the starting point of this article.Corresponding reflects the regulatory issues,this article take the way to solve is the introduction of faith obligation system,strengthen the internal regulation of "soft supervision" institutions,that is,from the perspective of consumer financial protection,set up faith obligation of insurance institutional investors,to strengthen the investment behavior of regulation at the same time,achieve the goal of sloping protection insurance products consumers.The first part of this article mainly introduces the origin of fiduciary duty of insurance institutional investors.The rise of institutional investors activism and its development in China.Through typical cases,the deficiencies in the existing insurance fund supervision system in China are introduced,that is,the lack of supervision system for insurance institutions from the perspective of consumer protection,so as to lead to the problem of fiduciary duty for insurance institutional investors.The second part analyzes the theoretical disputes on the legal basis of fiduciary duty borne by insurance institutional investors,determines the viewpoints of this paper,and proves them by elaborating the reasons and significance.The third part introduces the uniqueness of fiduciary duty of insurance institutional investors and its reasons,and expounds the manifestation of the uniqueness.Part iv learn from outside faith obligations applicable legislation experience,divided into two parts,one is to learn from the United States method of the financial sector faith obligations rules in the evolution of the cognizance of the relation of Lutheran model train of thought,in the second method is to learn from Japan to the specific content of faith obligations apply,take a long time,both the choice of adjust measures to local conditions for good legislative idea of China’s national conditions and market rules.The fifth part puts forward some Suggestions on improving the fiduciary duty of insurance institutional investors in China,aiming at realizing the slant protection of consumers of insurance financial products,formulating dissimilar and multi-level fiduciary duty rules for insurance institutional investors.