2013年3月,证监会颁布《证券公司资产证券化管理规定》(以下简称《原规定》)标志着企业资产证券化转为常规业务,虽然在2014年4月,证监会曾一度取消证券公司专项资产管理业务,但随即在2014年11月颁布的《证券公司及基金管理公司子公司资产证券化业务管理规定》(以下简称《新规定》)中又得以恢复。在《新规定》中,尽管就参与者范围与职责、基础资产、合格投资者以及审批制度等问题重新作了规定,但是证券化资产如何与发起企业资产实现真正脱离,将在本文予以探讨。 In March 2013, the Securities and Futures Commission (CSRC) promulgated the Provisions on the Administration of Asset-backed Securities Companies (hereinafter referred to as “the original Provisions”) marking the conversion of corporate asset securitization into regular business. Although in April 2014, the Securities and Futures Commission once canceled securities companies Special asset management business, but was immediately resumed in November 2014 “Provisions on the Administration of Assets Securitization Business of Securities Companies and Fund Management Subsidiaries” (hereinafter referred to as the “New Provisions”). In the “new rules”, although issues such as the scope and responsibilities of participants, basic assets, qualified investors and the examination and approval system are restated, the actual separation of securitized assets from the initiation of corporate assets will be discussed in this article.