【作者】 王玉；

【导师】 梁洪杰；

【作者基本信息】 河北经贸大学 ， 国际法， 2011， 硕士

【摘要】 证券监管是近代以来在法律领域出现的新的概念,是为了应对证券市场营运过程中出现的种种问题而采取的监管措施跟手段以及由此而形成的监管理论体系。中国的证券市场自诞生以来,经过十几年的发展,已逐渐步入正轨,但由于证券市场存在巨大的经济利益,对促进国民经济发展又起到了较大的作用,因此加强监管力度,完善我国的证券监管体系有利于我国证券市场的健康发展。我国的证券市场是在股份制改造的过程中建立完成的,运作初期极不规范,证券市场的自我管理和风险控制能力非常欠缺。在证券市场建立初期,由于监管体制不能同时制定完善,出现了大量的问题,比如市场上存在的大量虚假信息、内幕交易等现象,以及操纵市场、过度投机等行为。这些问题不但损害了投资者的利益,而且也使得证券市场丧失了作为观察国民经济走向的作用。证券监管涉及到多个学科领域,而各学科领域又出现交叉融合,如何对一个年轻的证券市场进行有效的监管成为我国目前面临的一大课题。我国证券市场在发展建立的过程中借鉴了大量发达国家的经验,同样的对于证券监管问题也采纳了发达国家的证券监管制度。美国是世界上公认的证券市场最为成熟和完善的国家,其证券监管体制经过长时间的发展已经相当成熟,其严格的市场监管及制度创新,反映出证券市场监管的基本规律和普遍原则。因此研究美国的证券监管法律制度对完善我国证券监管体制和促进证券市场的健康发展有着巨大的现实意义和理论意义。证券监管涉及的内容很广,关于监管制度的分析也不仅仅是法律讨论的对象,其中也包含了西方经济学、产业组织理论、交易理论、金融创新理论等研究方向。本文旨在结合中美证券监管的实际,力求准确、科学地描述证券监管法律制度的演变与发展,并旨在探讨在越来越多的证券市场全球化的趋势下,如何加强我国证券市场的监管以求不断完善证券市场的职能,实现我国证券经济的长足发展。更多还原

【Abstract】 Content:Securities regulation in the legal field is a new concept in modern times. It is a regulatory measure in response to the problems arising in the course of operation of stock market. It is a theoritical system of regulation as well. Since its birth,China’s stock market experienced a ten-year-development and has been gradually on the right track. Since there is a huge interest in stock market, securities regulation may promote economic development. Meanwhile, under a strong supervision, it will strengthen China’s securities regulatory system and improve development of China’s securities market.China’s securities market established is in the process of joint-stock reform. Since highly irregular initial operation, the stock market’s self-management and risk control is very weak.In the early development of the regulatory system, there arised a lot of problems because of an unhealthy regulatory system, such as the existence of a large number of false market information, insider trading and other phenomena, as well as market manipulation, excessive speculation, and behavior. These problems will not only harm the interests of investors, but also handicap the function of observation to the national economy.Securities regulation involves many areas which may be crossed. Therefore, how to regulate a young securities market effectively becomes a major issue in current China. China should learn from the developed countries and adopt the securities regulatory system in the development of the process of establishing the stock market. The stock market of the United States is recognized as the most mature and comprehensive stock market in the world. The securities regulatory system in the USA is already quite mature after a long period of development. And its strict system of market regulation and its innovation reflect the basic law of securities regulation and general principles. Therefore, it is meaningful to study law system of securities regulation in the USA. The study will help strengthen the securities regulatory system and improve the development of stock market in China.The content of securities regulation involves a wide analysis on the regulatory system. It is not merely the object of legal discussion, but also includes economics, industrial organization theory, transaction theory, theory of financial innovation and research. This essay aims to accurately and scientifically describe the evolution of securities regulation and development of the legal system, by the contrast to the situation in U.S. at the same time, it aims to study, with the trend of globalization, how to strengthen China’s securities market regulation and perfect its functions of securities markets in order to achieve a constant and rapid economic development of China’s securities economy.更多还原