文档介绍：1 内容摘要投资者适当性制度肇始于美国,现已发展为投资者保护制度的重要基石之一,在域外成熟的证券资本市场也是规范投资者和证券公司之间权利和义务关系必不可少的内容。随着我国多层次资本市场体系的构建,我国立法和证券监管机构已经在有关法规、行政规章和自律性规范中对投资者适当性制度进行了初步规定,但比较粗糙和简陋,尚未触及到投资者适当性制度的核心。有鉴于此,本文立足于我国证券市场的实际,在系统梳理和分析域外成熟资本市场经验的基础上,审视和反思我国的投资者适当性制度的缺陷和不足并提出完善我国证券市场投资者适当性制度的路径构想。本文分五个部分: 第一部分是投资者适当性制度的理论概述。此部分界定了投资者适当性制度的概念,在定义的基础上提炼出投资者适当性制度的内涵。此外,介绍了投资者适当性制度在我国的源起和发展,具体涉及基金领域、银行业领域、信托领域、创业板市场领域以及股指期货市场领域的投资者适当性。第二部分是投资者适当性制度的理论基础。阐释了投资者适当性制度的经济学基础、伦理学基础、社会学基础以及法理学基础。第三部分是投资者适当性制度的主要内容。此部分结合中国实践,以比较法视角, 介绍说明了国外投资者适当性制度里较有特色的内容,包括投资者适当性制度的适用范围、考虑因素、适当性义务的履行、内部管控机制以及适当性义务的免除情形。第四部分是对我国投资者适当性制度的审视和反思。此部分在审视了我国投资者适当性制度现状之后从立法和司法上反思了当前我国投资者保护制度尚存的欠缺和不足之处。第五部分是完善我国投资者适当性制度的路径构想。具体内容涵盖提升投资者适当性原则的法律效力层级、引入投资者分类制度、引入投资者适当性免除义务、明确违反投资者适当性义务的民事责任、优化我国的证券市场监督、完善投资者适当性制度的争议解决机制及相关的配套机制。关键词: 证券市场投资者权利保护投资者适当性制度 1 Abstract Securities investors appropriateness system originated in the United States, which is developed to be one of the cornerstones of investor protection system. Extraterritorial securities in the mature capital markets, the system is already an essential part of regulating the rights and obligations between investors and panies. With the construction of multiple level capital market system, our legislation and securities regulators have initially required inrelevant laws and regulations, administrative rules and norms of discipline on securities investors appropriateness system, but the provisions are superficial and shallow ,not yet touched the core of it. For this reason, this paper based on our country's securities market, not bines and analyzes the essful experiences of extraterritorial securities in the mature capital markets, but also examines and reflects the defects and deficiencies of securities investors appropriateness system, furthermore, it proposes path ideas of improving our country's securities investors appropriateness system. The paper is divided into five parts: The first part refers to the theoreti