上海(hai)金(jin)(jin)(jin)融(rong)法院(yuan)2月17日發(fa)布《私募基金(jin)(jin)(jin)糾紛法律(lv)風險防范報(bao)(bao)告》，這是上海(hai)金(jin)(jin)(jin)融(rong)法院(yuan)建(jian)立“金(jin)(jin)(jin)融(rong)糾紛法律(lv)風險防范報(bao)(bao)告年度(du)發(fa)布機制”后的首次落地。《報(bao)(bao)告》建(jian)議(yi)從(cong)十方面完善私募基金(jin)(jin)(jin)合同條(tiao)款(kuan)。

　　《報(bao)告》對上海法院2016年至(zhi)2021年審(shen)結的(de)(de)(de)涉私(si)募(mu)基金(jin)案(an)(an)件(jian)進行(xing)統計分析，發現案(an)(an)件(jian)呈現以(yi)(yi)下特點：一是(shi)(shi)(shi)(shi)(shi)標(biao)的(de)(de)(de)額大且案(an)(an)件(jian)數(shu)量呈上升(sheng)趨勢，訴(su)(su)訟(song)標(biao)的(de)(de)(de)額主(zhu)(zhu)要集(ji)中(zhong)在100萬(wan)元至(zhi)1000萬(wan)元之間(jian)，案(an)(an)件(jian)數(shu)量近(jin)六年呈上升(sheng)趨勢，尤其在2017年至(zhi)2018年呈快(kuai)速(su)增長態勢。二是(shi)(shi)(shi)(shi)(shi)糾(jiu)紛(fen)主(zhu)(zhu)要發生于私(si)募(mu)基金(jin)內部，67.53%的(de)(de)(de)糾(jiu)紛(fen)發生在投(tou)(tou)(tou)資(zi)者、管理人(ren)(ren)、托管人(ren)(ren)、投(tou)(tou)(tou)資(zi)顧(gu)問(wen)、銷售機構(gou)之間(jian)。三(san)是(shi)(shi)(shi)(shi)(shi)案(an)(an)由多(duo)(duo)樣(yang)(yang)但以(yi)(yi)合(he)同糾(jiu)紛(fen)為(wei)主(zhu)(zhu)，占(zhan)(zhan)比(bi)(bi)71.96%。四是(shi)(shi)(shi)(shi)(shi)訴(su)(su)請類(lei)型多(duo)(duo)樣(yang)(yang)但以(yi)(yi)主(zhu)(zhu)張(zhang)違約(yue)責(ze)任為(wei)主(zhu)(zhu)，占(zhan)(zhan)比(bi)(bi)67.34%。五是(shi)(shi)(shi)(shi)(shi)糾(jiu)紛(fen)多(duo)(duo)為(wei)個人(ren)(ren)投(tou)(tou)(tou)資(zi)者起(qi)訴(su)(su)管理人(ren)(ren)，68.08%的(de)(de)(de)訴(su)(su)訟(song)案(an)(an)件(jian)由投(tou)(tou)(tou)資(zi)者提(ti)起(qi)，其中(zhong)92.95%為(wei)個人(ren)(ren)投(tou)(tou)(tou)資(zi)者。六是(shi)(shi)(shi)(shi)(shi)私(si)募(mu)基金(jin)組織形式多(duo)(duo)樣(yang)(yang)且以(yi)(yi)合(he)伙型、契約(yue)型為(wei)主(zhu)(zhu)。七是(shi)(shi)(shi)(shi)(shi)投(tou)(tou)(tou)資(zi)標(biao)的(de)(de)(de)主(zhu)(zhu)要為(wei)非標(biao)準化資(zi)產，大多(duo)(duo)數(shu)投(tou)(tou)(tou)資(zi)標(biao)的(de)(de)(de)為(wei)股權，占(zhan)(zhan)比(bi)(bi)41.11%。八是(shi)(shi)(shi)(shi)(shi)糾(jiu)紛(fen)多(duo)(duo)發于投(tou)(tou)(tou)資(zi)、退(tui)出階段，分別(bie)占(zhan)(zhan)比(bi)(bi)34.50%和61.25%。九是(shi)(shi)(shi)(shi)(shi)本金(jin)收益承諾較(jiao)為(wei)常見且形式多(duo)(duo)樣(yang)(yang)，占(zhan)(zhan)比(bi)(bi)28.41%。十是(shi)(shi)(shi)(shi)(shi)訴(su)(su)訟(song)案(an)(an)件(jian)數(shu)量遠小于仲裁案(an)(an)件(jian)數(shu)量。十一是(shi)(shi)(shi)(shi)(shi)勝訴(su)(su)案(an)(an)件(jian)因被執(zhi)行(xing)人(ren)(ren)資(zi)信不佳而執(zhi)行(xing)到位(wei)(wei)率較(jiao)低，無財產可供(gong)執(zhi)行(xing)的(de)(de)(de)占(zhan)(zhan)比(bi)(bi)62.57%，完(wan)全(quan)執(zhi)行(xing)到位(wei)(wei)的(de)(de)(de)僅占(zhan)(zhan)比(bi)(bi)14.62%，實(shi)際執(zhi)行(xing)到位(wei)(wei)率為(wei)13.60%。

　　為進一步明(ming)(ming)(ming)確細化易引發糾紛(fen)的(de)情(qing)形，有效堵塞風險漏洞，加強糾紛(fen)源頭治理，《報告》就完善私(si)(si)募(mu)基(ji)金(jin)合同條款(kuan)提(ti)出十(shi)方(fang)面建(jian)議：一是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確私(si)(si)募(mu)基(ji)金(jin)的(de)法(fa)律關(guan)系性質；二是(shi)(shi)(shi)(shi)提(ti)示構成剛(gang)兌的(de)情(qing)形與(yu)法(fa)律后果；三是(shi)(shi)(shi)(shi)披露是(shi)(shi)(shi)(shi)否提(ti)供其他(ta)增信措施及具體(ti)方(fang)式；四是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確管(guan)(guan)理人義務的(de)性質與(yu)內(nei)容；五是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確托管(guan)(guan)人的(de)法(fa)律地位與(yu)義務；六是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確基(ji)金(jin)合同變更(geng)、解除(chu)與(yu)終止的(de)情(qing)形及其法(fa)律后果；七(qi)是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確投資者退出的(de)條件、具體(ti)方(fang)式和(he)程序；八(ba)是(shi)(shi)(shi)(shi)合伙型私(si)(si)募(mu)基(ji)金(jin)投資者退出的(de)特別(bie)注意事項；九是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確私(si)(si)募(mu)基(ji)金(jin)清(qing)算的(de)條件、期限與(yu)方(fang)式；十(shi)是(shi)(shi)(shi)(shi)明(ming)(ming)(ming)確管(guan)(guan)理人怠于(yu)清(qing)算時的(de)違(wei)約責任等。