信托交易

论信托模式交易结构的再设计

On the Design of the Transactional Structure of Trust Module

信息不对称和信托产品交易机制设计

Asymmetric Information & Trust Products Trading Mechanism

钻洞子的公司于是转向逆向莫里斯信托。这种交易要求出售方最终需持有收购方多数股权。这会极大地挫伤买家的积极性。

Loophole openers begat Reverse Morrises , which require that shareholders of the selling company end up with a majority stake in the acquiring company & a big disincentive to buyers .

对基于信托模式的交易结构进行了再设计，引入了公开竞价机制、战略投资者、风险共担机制以及与员工持股计划相结合的管理层收购与员工持股计划结合的方案。

This essay redesigns the transactional structure based on trust module , incorporating a package of schemes including open competition mechanism , strategic investors , risk sharing mechanism and EMBO combined with ESOP .

其中信托业务关联交易的定价政策、关联交易对信托业务与信托公司盈利能力的影响、信托财产安全状况以及是否存在违规挪用信托财产的问题无疑构成当前迫切需要研究的问题。

In order to solve the problem , it becomes necessary to work out scientific price policy , to investigate the effect of the related truncation to trust company and trust project , and whether trust assets is appropriated .

家族事务公司可提供与投行业务一样范围广泛的金融服务：资产管理、保障所有权结构的信托服务、交易及融资等公司金融顾问服务。

Family offices can provide a wide range of financial services that would otherwise be delivered by an investment bank : asset management ; trust services that ensure the right ownership structure is in place ; and corporate finance advice on deal-making and fund-raising .

新两规对信托公司的关联交易进行了明确的限制。

But the new two rules definitely restrict related party transactions .

信托受托人自我交易的效力研究

Study on the effectiveness of entrusted trustee ' self-trade

即使当前就“改革”公司税提出的降低税率、扩大税基提案最终成为法律，我们还是可以断言宝洁公司依然会从事逆向莫里斯信托或类似的交易。

Even if current bids to " reform " corporate taxes by lowering the rate and broadening the base are enacted , you can bet that P & G would still be out doing reverse Morris trust deals or something similar .

建立不动产信托登记制度，不仅能保护和平衡信托当事人间的利益，提高信托交易的效率，还能为国家行使国家职能提供依据。

Establishment of trust registration system of real estate can not only protect and balance the trust parties ' interests and enhance trust transaction efficiency , but also provide the basis on the exercise of state functions .

本文将政府中小企业融资政策扶持背景融入信托方案设计中，深入剖析本方案的特点及优越性，并对其信托方案要素、交易结构、实施等方面进行详细介绍。

This will be the background of government policy support SME financing programs into the design of the Trust , in-depth analysis of the characteristics and advantages of the program and program elements to its trust , transaction structure , the implementation of other aspects in detail .

第二，明确信托业应有的市场地位、确认实践中信托业由各金融机构混业经营趋势、为信托业发展提供交易模式指导等，都需要《信托业法》提供正式制度安排；

Secondly , it can supply formal system to erect the status of trust industry , notarize the current of mixed management in trust business , and offer the trust transaction mode .