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信托业监管模式及其形成路径在不同国家迥然有别:信托发源国的诱致性变迁形成了功能性监管体制;而信托引进国则不约而同地形成了机构性监管的体制。我国信托业监管历经强制性变迁与诱致性变迁的轮回,形成了目前混业经营和多头监管的状况。当前信托业发展诸多问题背后的矛盾主要有:一是分业经营体制与信托业广泛应用性的矛盾;二是监管专门化程度低与信托业高级金融形态的矛盾;三是监管立法层次低和信托市场统一规范要求的矛盾。新的市场需求和金融体系变革浪潮必将推动信托业由目前法定的分业经营、分业监管的机构监管体制,向混业经营、统一监管的功能监管体制转型。其可行路径则是由监管规则统一到监管机构统一的功能化变迁。
The regulatory model of trust industry and its formation path are very different in different countries: the induced change of the country of origin of trust has formed a functional regulatory system; and the introduction of trusts has invariably formed an institutional regulatory framework. After a period of compulsory vicissitude and inducement of vicissitudes in China’s trust regulation, the current situation of mixed operation and long-term supervision has formed. The contradictions behind the current development of the trust industry are mainly as follows: First, the contradiction between the diversified operation system and the extensive application of the trust industry; second, the contradiction between the low degree of specialization in supervision and the advanced financial forms of the trust industry; thirdly, the regulatory level is low and Conflicts in the Unified Normative Requirements of the Trust Market. The new market demand and the wave of changes in the financial system will surely promote the transformation of the trust industry from the current statutory regulatory system under separate operation and separate supervision to a functional supervision system with mixed supervision and unified supervision. The feasible route is unified by the regulatory rules to the regulatory agencies a unified functional changes.