Polianska I. Rights of Investors During the Process of Joint Investment: Comparing With The European Legal Models

The dissertation is devoted to the research of the legal nature of the rights of the investors during the process of joint investment and to the identifying the patterns of legal regulation of the status of investors of UCI according to Ukrainian legislation and according to foreign, specifically Western European legislation. In the dissertation the historical development of legal regulation of joint investment in Ukraine and in the countries of European Union are being analyzed. The nature of the rights of investors - corporate fund shareholders are being researched. The author suggests the concept of legal regulation of management relations within mutual fund on the basis of management contract model. On the basis of European legislative experience, the issue of structuring mutual funds on the basis of the institute of mutual partial property is being researched. The author proves that in the foundation of model of joint investment of contract type there is contractual relationship between management company of mutual fund and investor, that needs to obtain an important place in the structure of investment certificate. The content, implementation mechanisms and the protection of investors - holders of investment certificates are being researched, specifically the right to redeem the investment certificate and the right to obtain incomes in case of mutual fund's assets allocation. The research deals with the positive and negative aspects of implementation of the guarantees and compensation mechanisms within European and Ukrainian mutual investments markets. The author develops scientifically based proposals and recommendations to address gaps in law enforcement practices and improvement of current legislation in the sphere of joint investment funds.