作者：姚承曦著
页数：718
出版社：中国金融出版社
出版日期：2018
ISBN：9787504997920
电子书格式：pdf/epub/txt
内容简介
本书收集了美国投资管理中的诸多经典案例，栩栩如生、如同在昨、发人深省。案例本身颇具代表性，作者分析入木三分，剖析了投资管理中的得失错漏。通过案例分析痛思前非、深鉴未来，才能更好地实现美国证券交易委员会的目标与宗旨：保护投资者利益，维护公平、有序、高效的市场秩序，加强信息披露。本书作者长期在美国从事证券交易工作，具有很丰富的市场经验。本书对美国投资管理的经典案例进行了梳理，并对案例进行了点评，有助于实务工作者、研究人员学习和了解美国投资管理法律。
作者简介
姚承曦，姚承曦现任中国广东汕头大学商学院金融与证券监管学教授。教学与科研方向为中、美金融市场监管。任职汕头大学之前，姚承曦在美国国家证券监管部门与证券业界工作近二十年。在监管部门，姚承曦历任美国国家金融监管局(FINRA)法律总顾问处律师、纳斯达克(NASDAQ)国际市场法律顾问、纽约股票交易所(NYSE)券商监管高级律师、纽约股票交易所亚太地区(包括中国)以及加拿大在美上市公司事务经理。在金融与证券业界，姚承曦先后任区域大型券商公司监察副总裁和资本市场法律顾问、区域大型银行控股公司副总裁兼法律顾问。其后在全球最大共同基金富达投资集团任国际资本市场监管副总裁。
目录
TABLE OF CONTENTS
CHAPTER 1 CONCEPT OF INVESTMENT COMPANY
SECTION 1．1 PRIMARY ENGAGEMENT： MANAGING INVESTMENTS VS OPERATING BUSINESS
Topic 1 Operating Company vs Investment Company
Topic 2 Industrial Holding Company vs Spe Situation Investment Company
SECTION 1．2 TYPES OF REGISTERED INVESTMENT COMPANIES
Topic 1 “Redeemable Security”： Open-End/Closed-End Dichotomy
Topic 2 Interval Funds： Periodic Repurchasability vs Limited Redeemability
Topic 3 Exchange-Traded Fund： Open-End/Closed-End Hybrid
Topic 4 Money Market Fund： A Type of Open-End Investment Company
CHAPTER 2 MUTUAL FUND STRUCTURAL CONFLICTS; GOVERNANCE; OVERREACHING RISK
SECTION 2．1 FIDUCIARY NATURE OF ADVISER-FUND INVESTORS RELATIONSHIP
Topic 1 Structure of the Investment Company Industry
Topic 2 Fiduciary Duty in Respect of Management Fees
Topic 3 Fiduciary Restrictions on Profitable Transfer of Advisory Contract
SECTION 2．2 INDEPENDENT WATCHDOG FOR FUND INVESTORS
Topic 1 Role of Mutual Fund Board
Topic 2 Fund’s Independent Directors： Watchdogs and the Watched
SECTION 2．3 REGULATORY STRICTURES PROTECTING FUNDS FROM AFFILIATE OVERREACHING
Topic 1 Prior Exemption Required of Affiliate “Acting as Principal” Involving Fund
Topic 2 Remuneration Limitation on Affiliate “Acting as Broker” for Fund
Topic 3 Prohibition of Affiliate “Acting as Agent” Compensated by Third Party
CHAPTER 3 MUTUAL FUND DISTRIBUTION; TRADING; INVESTMENTS
SECTION 3．1 MUTUAL FUND DISTRIBUTION
Topic 1 Structure of Mutual Fund Distribution Finance
Topic 2 Prohibited Distribution Arrangement： IA Revenue Sharing for BD Shelf Space
SECTION 3．2 TRADING IN MUTUAL FUND SHARES
xiv Table of Contents
Topic 1 Late Trading： Insider？6？8s Illegal Profits
Topic 2 Abusive Market Timing： Unfair Short-Term Arbitrage Profit
SECTION 3．3 MUTUAL FUND TRADING IN PORTFOLIO SECURITIES
Topic 1 Soft Dollar Practices
SECTION 3．4 MUTUAL FUND INVESTMENT AND LEVERAGE RESTRICTIONS
Topic 1 Fund of Funds： Pyramid vs Hub-and-Spokes
CHAPTER 4 INVESTMENT ADVISER REGULATION AND ENFORCEMENT UNDER ADVISERS ACT
SECTION 4．1 INVESTMENT ADVISER CONDUCT REGULATION
Topic 1 Statutory Investment Adviser and Exclusions
Topic 2 Registration， Exemption， and Reporting Regime for Statutory Advisers
Topic 3 Standards of Conduct： Investment Adviser vs Broker-Dealer
SECTION 4．2 INVESTMENT ADVISER ANTIFRAUD ENFORCEMENT
Topic 1 Antifraud Statute of Advisers Act
Topic 2 Fraudulent “Pay to Play” Practices
Topic 3 Misleading Investment Performance Advertising
CHAPTER 5 CERTAIN POOLED INVESTMENT VEHICLES BEYOND MUTUAL FUNDS
SECTION 5．1 INSURANCE COMPANY， SEPARATE ACCOUNTS， AND VARIABLE CONTRACTS
Topic 1 Ectoplasmic Theory： Insurance Company vs Variable Separate Account
Topic 2 Issuer of Securities： Insurance Company vs． Non-Unitized Separate Account
SECTION 5．2 BANK COMMON TRUST FUND AND COLLECTIVE INVESTMENT FUND
Topic 1 Fiduciary Trust Services vs Investment Management Services
Topic 2 Trust Funds and Pension Funds Maintained by Bank
SECTION 5．3 POOLED INVESTMENT VEHICLES FUNDING PENSION PLANS
Topic 1 Defined Benefit vs Defined Contribution
SECTION 5．4 STRUCTURED FINANCING VEHICLES
Topic 1 Mortgage-Related Pools
SECTION 5．5 PRIVATE INVESTMENT COMPANIES
Topic 1 Hedge Fund
Topic 2 Performance Fee
