我国融资融券担保制度的法律困境与解决思路

2006年6月30日，中国证监会发布了《证券公司融资融券业务试点管理办法》，为我国融资融券业务的开展提供了具体的法律依据。《管理办法》在构建融资融券的担保制度时，充分借鉴了美国等国家和地区的做法，创造性地引入了让与担保。然而，当前我国法律尚未确立让与担保制度，这就导致了我国按照让与担保模式设定的融资融券担保制度陷入了法律困境。本文试以境外市场的成功经验为借鉴，探讨我国现行融资融券担保制度法律困境的解决思路。

Legal Dilemma and Solution for Implementing Security System in Stock Lending and Borrowing in China

CSRC Provisional Measures on Stock Lending and Borrowing by Securities Companies provides for a legal framework for the business of stock lending and borrowing. These measures refer to the international practice in the security system and initiate lending security. However, lending security is not yet in place in China, which results in a legal dilemma in introducing lending security for stock lending and borrowing. This paper is trying to refer to successful overseas experience in seeking a solution for the current dilemma.