我国股指期货市场监管法律制度研究

发布时间：2018-02-09 19:00

本文关键词： 股指期货政府监管自律监管期货法　出处：《湖南工业大学》2017年硕士论文　论文类型：学位论文

【摘要】：股指期货是20世纪80年代产生于美国的一种金融衍生产品,其价值发现、套期保值、规避风险的功能使其迅速普及到世界各国。股指期货于2010年4月在中国金融期货交易所推出。我国金融期货市场“政策市”现象严重,虚假陈述、操纵市场、内幕交易现象屡禁不止。金融期货市场立法滞后,政府监管不力,而行业自律监管实质上起不到有效作用,难以实现政府的监管与自律监管之间的动态平衡,导致股指期货市场违法违规行为不能被有效遏制,做到最大程度的保护中小投资者的合法权益。如何在其发展中汲取教训,兴利除弊,发挥股指期货的积极作用,对其进行有效的监管已成为金融市场稳定、可持续发展需要着重解决的问题。我国股指期货市场还处在初期阶段,存在很多监管问题和漏洞。为防范金融创新可能带来的风险,我国有必要借鉴和吸取国际市场中有关股指期货发展的成功经验,提高我国金融投资者风险管理意识,完善有关监管法规。文章从法学角度出发,结合经济学相关知识,首先探讨股指期货监管法律的制度的必要性,然后合理借鉴域外其他国家和地区在监管制度和立法上的经验,针对我国股指期货交易法律监管制度的现状和存在的不足,从完善立法、成立专业监管机构、加强交易所和行业协会的自律监管、完善风险控制制度、完善信息披露制度、完善民事赔偿制度加强对中小投资者的保护等六个方面达到完善我国股指期货市场监管法律制度的目的。
[Abstract]:Stock index futures is a kind of financial derivative that originated in the United States in 1980s. Its value discovery, hedging, In April 2010, stock index futures were launched in China Financial Futures Exchange. The phenomenon of "policy market" in China's financial futures market is serious, false statements and manipulation of the market. The phenomenon of insider trading is repeatedly prohibited. The legislation of the financial futures market lags behind, the government does not supervise effectively, but the industry self-regulation does not play an effective role in essence. It is difficult to achieve the dynamic balance between government supervision and self-regulation. As a result, the illegal and illegal activities in the stock index futures market cannot be effectively curbed and the legitimate rights and interests of small and medium-sized investors can be protected to the greatest extent. How to learn lessons from the development of stock index futures, do beneficial things, remove the drawbacks, and give play to the positive role of stock index futures, The effective supervision of the stock index futures market has become a stable financial market, sustainable development needs to be solved. China's stock index futures market is still in the initial stage, there are many regulatory problems and loopholes, in order to prevent financial innovation may bring risks, It is necessary for our country to learn from and absorb the successful experience of the development of stock index futures in the international market, improve the risk management consciousness of financial investors in our country, and perfect the relevant regulations and regulations. First of all, it discusses the necessity of the regulation system of stock index futures, and then reasonably draws lessons from the experiences of other countries and regions in the supervision system and legislation, aiming at the present situation and shortcomings of the legal supervision system of stock index futures trading in our country. In order to improve legislation, establish professional regulatory bodies, strengthen the self-regulation of exchanges and trade associations, improve the risk control system, and improve the information disclosure system, Perfecting the civil compensation system and strengthening the protection of the small and medium-sized investors reach the purpose of perfecting the legal system of supervision of the stock index futures market in our country.
【学位授予单位】：湖南工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287

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