论股市危机后中国股票发行注册制改革的对策

发布时间：2018-01-21 07:49

本文关键词： 股市危机股票发行注册制《证券法》修订草案改革对策　出处：《中国政法大学学报》2017年05期 　论文类型：期刊论文

【摘要】：2015年股市危机暴露出来的问题,对股票发行注册制改革提出了新的挑战。中国《证券法》重大修改的立法进程也受到了一定的影响,但是2016年中国第十二届全国人大第四次会议通过的"十三五规划"明确提出,"创造条件实施股票发行注册制"。因此,我们的任务是不仅要积极创造股票注册制的市场条件,而且还要积极思考并设计出合理的相关制度。本文正是对股市危机后中国股票发行注册制改革对策的重新思考。具体对策主要包括:将中小投资者利益的保护确立为注册制改革的指导思想;在注册制改革的同时改革中国证监会;证券发行注册应当统一适用于股票和债券市场;注册制的制度设计重心应当立足于事中、事后和信息公开监管;建立严格的强制退市制度;完善相关法律责任制度和权利救济制度。
[Abstract]:In 2015, the problems exposed by the stock market crisis posed a new challenge to the reform of the registration system of stock issuance, and the legislative process of major amendments to China's Securities Law was also affected to a certain extent. But the 13th Five-Year Plan, adopted by the 4th session of China's 12th National people's Congress in 2016, explicitly states that "conditions should be created for the implementation of the registration system for share issuance." Our task is not only to actively create the stock registration system market conditions. This paper is just a reconsideration of the reform of China's stock issuance registration system after the stock market crisis. The specific countermeasures mainly include:. Establishing the protection of the interests of small and medium-sized investors as the guiding ideology of the reform of registration system; Reform the CSRC while reforming the registration system; The registration of securities issuance shall be uniformly applicable to the stock and bond markets; The focal point of system design of registration system should be based on the matter and supervision of information publicity afterwards; To establish a strict system of forced delisting; Improve the relevant legal liability system and right relief system.
【作者单位】：中国政法大学;
【分类号】：D922.287
【正文快照】： 一、问题的由来2015年,中国发生了一系列股票价格异常波动的股市危机。[1]这场股价异常波动从2015年6月中旬开始到8月底结束,前后经历两轮暴跌。2015年6月15日至7月9日,大盘首轮暴跌。上证指数在18个交易日内暴跌1?803点,最大跌幅近35%;2015年8月18日至8月26日,大盘再度暴跌。

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