涉证券类案件汇编 | 法宝双语案例

北大法律信息网

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1.中国旅游国际信托投资有限公司、世纪证券有限责任公司与天津市住房公积金管理中心、中国旅游国际信托投资有限公司天津证券交易营业部国债返还纠纷案

China Tourism International Trust and Investment Co., Ltd. and Century Securities Co., Ltd. v. Tianjin Housing Provident Fund Management Center and Tianjin Securities Exchange of China Tourism International Trust and Investment Co., Ltd. (case regarding dispute over return of national debts)

2. 攀枝花市国债服务部与重庆市涪陵财政国债服务部证券回购纠纷执行请示案

Panzhihua City State Treasury Bonds Service Agency v. Chongqing Fuling Financial State Treasury Bonds Service Agency (case regarding request for guidance on re-enforcement in securities repurchase dispute)

3. 浙江斯文新技术投资有限公司与被上诉人广东证券股份有限公司、广东证券股份有限公司广州西华路证券营业部及原审第三人海通证券股份有限公司证券登记、存管、结算与客户交易结算资金纠纷上诉案

Zhejiang Sunway New Technology Investment Co., Ltd. v. Guangdong Securities Co., Ltd. (Appellee), Guangzhou Xihua Road Securities Business Department of Guangdong Securities Co., Ltd. (Appellee), and Haitong Securities Co., Ltd. (as a third party at trial) (appeal of case regarding dispute over registration, custody, and settlement of securities and clients' transaction settlement funds)

一、中国旅游国际信托投资有限公司、世纪证券有限责任公司与天津市住房公积金管理中心、中国旅游国际信托投资有限公司天津证券交易营业部国债返还纠纷案

China Tourism International Trust and Investment Co., Ltd. and Century Securities Co., Ltd. v. Tianjin Housing Provident Fund Management Center and Tianjin Securities Exchange of China Tourism International Trust and Investment Co., Ltd. (case regarding dispute over return of national debts)

【裁判要旨】

委托理财，是指证券公司或投资公司接受客户委托，通过证券市场对客户资产进行有效管理和运作，在严格遵守客户委托意愿的前提下，在尽可能确保客户委托资产安全的基础上，实现资产保值增值的一项业务。证券公司与客户建立委托理财合同关系，证券公司是以自己的名义对客户资产进行运作。而在经纪类合同关系中，证券公司是作为客户的代理人，按照客户意愿进行操作，发挥着中间人的作用。委托理财合同关系与经纪类合同关系虽性质不同，但对于因侵权行为给客户造成的损失，证券公司均负有返还客户资产的责任。因此，证券公司擅自挪用客户购买的国债进行质押回购，因此给客户造成损失，不能以双方系委托理财合同关系而非经纪类合同关系为由，拒绝返还国债。

[Judgment Abstract]

Entrusted wealth management refers to a business that realizes the preservation and appreciation of assets, where a securities company or investment company accepting the entrustment of customers, on the premise of strictly observing the entrustment wishes of customers, effectively manages and operates customers' assets through securities markets, on the basis of ensuring the safety of customers' entrusted assets as much as possible. Where a securities company establishes an entrusted wealth management contract relationship with a client, the securities company operates the client's assets in its own name. However, in a brokerage contract relationship, a securities company, as a client's agent, operates in accordance with the client's wishes and plays the role of an intermediary. Although the nature of an entrusted wealth management contractual relationship is different to that of a brokerage contractual relationship, the securities company shall be responsible for the loss caused by the infringement by returning the customers' assets. Therefore, if a securities company causes losses to customers by appropriating national debts purchased by the customers for pledge repurchasing without authorization, it shall not refuse to return the national debts based on the existence of the entrusted wealth management contractual relationship between the two parties instead of the brokerage contractual relationship.

【法宝引证码】CLI.C.2453917

[CLI Code] CLI.C.2453917(EN)

二、攀枝花市国债服务部与重庆市涪陵财政国债服务部证券回购纠纷执行请示案

Panzhihua City State Treasury Bonds Service Agency v. Chongqing Fuling Financial State Treasury Bonds Service Agency (case regarding request for guidance on re-enforcement in securities repurchase dispute)

【裁判摘要】

《公司法》第四条第二款规定：“公司享有由股东投资形成的全部法人财产权，依法享有民事权利，承担民事责任。”即公司的资产由具有独立法人资格的公司直接支配经营，公司对其所有的股票享有财产权。被执行人虽然投资开办公司，并享有全部股权，但其无权直接支配公司的资产，其只能处分其股权或者收取投资权益。因此，执行法院只能执行被执行人在公司的股权或投资权益，而不能直接执行其投资开办的公司所有的股票。

[Judgment Abstract]

According to Article 4(2) of the Company Law, a company shall enjoy all legal person property rights formed by shareholders investments, shall enjoy civil rights, and bear the civil responsibilities according to law. Namely, the company's assets are directly controlled and operated by the company in the status of qualified independent legal persons, and the company enjoys property rights over all its stocks. Although the judgment debtor invests in the establishment of the company and enjoys all the equity, it does not have the right to directly control the assets of the company. It can only dispose of its equity or receive investment rights. Therefore, the court can only execute the stock or investment rights in the company of the judgment debtor, but cannot directly execute the stocks owned by the company.

【法宝引证码】CLI.C.298669

[CLI Code] CLI.C.298669(EN)

三、浙江斯文新技术投资有限公司与被上诉人广东证券股份有限公司、广东证券股份有限公司广州西华路证券营业部及原审第三人海通证券股份有限公司证券登记、存管、结算与客户交易结算资金纠纷上诉案

Zhejiang Sunway New Technology Investment Co., Ltd. v. Guangdong Securities Co., Ltd. (Appellee), Guangzhou Xihua Road Securities Business Department of Guangdong Securities Co., Ltd. (Appellee), and Haitong Securities Co., Ltd. (as a third party at trial) (appeal of case regarding dispute over registration, custody, and settlement of securities and clients' transaction settlement funds)

【裁判要旨】

根据最高人民法院《关于依法审理和执行被风险处置证券公司相关案件的通知》的规定，“国家对个人债权和客户交易结算资金的收购，是国家有关行政部门和金融监管机构采取的特殊行政手段。相关债权是否属于应当收购的个人债权或者客户交易结算资金范畴，系由中国人民银行、金融监管机构以及依据《个人债权及客户证券交易结算资金收购意见》成立的甄别确认小组予以确认的，不属人民法院审理的范畴。”由此可知，在证券公司风险处置案件中，法院对证券公司账户内资金的性质是否为客户交易结算资金无权作出确认。因此，当事人要求确认证券公司账户内资金性质为客户交易结算资金的，法院应不予审理。

[Judgment Abstract]

In accordance with the provisions of the Notice from the Supreme People's Court regarding the Trial and Enforcement of Cases Related to the Securities Companies under Risk Disposal, “Acquisition of individual claims and clients' transaction settlement funds by the State is a special administrative measure taken by the relevant administrative departments and financial regulatory institutions of the State. Whether or not the relevant claims belong to the individual claims or clients' transaction settlement funds that should be acquired is a fact that shall be determined by the People's Bank of China, the financial regulatory institutions, and the identification and confirmation teams established under the Opinions on the Acquisition of Individual Claims and Clients' Securities Transaction Settlement Funds, and shall not fall within the trial scope of the people's courts.” On this basis, in a case regarding the risk disposal of securities companies, a court is not entitled to confirm whether the nature of the funds in a securities company account is the clients' transaction settlement funds. Therefore, if a party request confirmation of the nature of the funds in a securities company account as the clients' transaction settlement funds, a court should not hear such a case.

【法宝引证码】CLI.C.1793250

[CLI Code] CLI.C.1793250(EN)

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责任编辑 | 吴晓婧

稿件来源 | 北大法宝英文编辑组（Mani）

审核人员 | 张文硕

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