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基金管理人的利益冲突交易是一个内涵复杂且应用广泛的概念,具有以下特征,即交易目的具有矛盾性,交易主体范围具有限定性,交易主体具有二重性等等。对于利益冲突交易主体范围,各国一般采取双重结构来界定,即包括基金管理人及其关联人士,但对关联人士的界定有些区别。对于利益冲突交易的管制,各国一般采取原则性禁止和个别许可制度相结合的管制政策,在利益冲突交易个别许可的程序上显示出鲜明的行政管制色彩。并且,由于投资基金利益冲突交易存在更大的不公平风险,基金法对利益冲突交易的管制比公司法要严格得多。
Conflict of interest of the fund manager is a complex and widely used concept. It has the following characteristics: the purpose of the transaction is contradictory, the scope of the transaction is limited, the subject of the transaction is dual, and so on. For the scope of the subject of conflict of interest transactions, countries generally adopt a dual structure to define, that is, including fund managers and their related parties, but the definition of related parties is somewhat different. For the control of conflict of interest transactions, each country generally adopts the control policy of principle prohibition and individual permission system, which shows distinctive administrative regulation in the procedure of individual permission of the conflict of interest transaction. And because of the greater unfair risk of the conflict of interest in investment funds, the fund law controls the conflict of interest transactions more strictly than the company law.