论证券资产管理关系的法律适用

委托合同制度具有如同信托制度的财产管理功能，但现有金融法制未对财产管理委托实行准入管制。信托公司以外的各类受托人依托委托合同经营证券资产管理业务，不同主体经营的证券资产管理业务实质具有同一性，现有法制对这实质同一的社会关系依主体性质不同分别适用信托法制与委托合同法制，蕴涵着一定的金融风险与社会风险，信托法制较委托合同法制有着显著的比较优势，证券资产管理关系应统一适用信托法制。

On the Law Application of the Securities Assets Managing Relations

The trust industry should be operated separately from other finance industries. Only trust company can operate the trust industry, and only trust company can serve as the nominal holder for securities assets. The entrusting contract system has the same economic function as the trust. In practice, those other than trust company, such as normal legal person, natural person, are operating the securities assets entrusting managing industry relying on the entrusting contract system. At present, those the trust company operated are adjusted by trust law, but those operated by others adjusted by contract law, the nature of all kinds of securities assets entrusting managing relation is identical in substance, so it should be adjusting by the same law.