新常态下我国证券交易市场监管法律问题研究
发布时间：2018-08-06 14:56
【摘要】：证券交易市场日益成为现代市场经济中的典型代表之一,尤其在经济发展中发挥着重要的作用。2017年是我国“十三五”规划的第二年,也是重要的一年,新常态下我国金融领域特别是证券交易市场领域遇到了新困难和新风险,正如习近平总书记在2017年4月25日的中央政治局会议中所总结的金融与经济的关系:“金融活经济活,金融稳经济稳”,在当前日趋复杂的形势下,如何维护金融安全、防范和化解金融风险,如何对证券交易市场有效监管,保障证券市场高效地服务于我国的供给侧结构性改革和经济发展,这些都给我国证券交易市场的监管提出了更高的要求。面对新常态下我国证券交易市场出现的新情况、新问题,以证监会为主的证券监管机构背负的责任巨大,正如证监会刘士余主席在2017年多次公开讲话中提及:“证监会将依法履行一线监管职责,服务实体经济发展,依法全面从严监管”,这种全面监管利弊并存,难免会让证监会顾此失彼,在进行证券监管过程中出现理念偏差、干预过多、轻视程序化等问题便伴随而生。内幕交易一直是证券交易市场的顽疾和毒瘤,是维护我国金融安全、防范证券风险所必须坚决打击的。进入2017年的证券市场,IPO逐渐提速,预计2017年全年核发IPO数量达500家,然而截至2017年5月24日,证券市场“退市”公司仅有一家,这种严重不对等数量的入市退市现象,也是我国证券监管不容忽视的风险。针对我国证券交易市场存在的上述问题,全文在实证分析的基础上,结合我国证券监督管理机构针对我国证券交易市场2016-2017年度A股市场所采取的一系列监管措施,引申出这些监管所暴露出来的问题。本文分以下四部分。第一部分对证券交易市场“证监会监管职责”、“内幕交易监管”、“退市机制监管“三大问题的现状进行分析。第二部分从明确证监会法律属性、合理配置其监管职能、规范行使监管手段、建立监督证监会监管体制等方面来探讨完善证监会监管职责存在的问题。第三部分通过完善内幕交易监管法律体系、保障证券监管机构独立性、中在查处内幕交易力度、完善信息披露制度入手来探讨完善内幕交易的监管问题。第四部分从完善上市制度、完善退市标准体系、弱化政府干预、构建多层次平台等方面入手探讨完善退市机制监管问题。
[Abstract]:The stock exchange market is increasingly becoming one of the typical representatives of the modern market economy, especially playing an important role in economic development. 2017 is the second and important year of the 13th Five-Year Plan of China. Under the new normal, China's financial sector, especially the securities market, has encountered new difficulties and new risks. Just as General Secretary Xi Jinping summed up the relationship between finance and economy at the meeting of the political Bureau of the Central Committee on April 25, 2017: "Finance is alive and well." How to maintain financial security, prevent and defuse financial risks, and how to effectively supervise the securities trading market, "he said. To ensure that the securities market can efficiently serve the supply-side structural reform and economic development of our country, all of these put forward higher requirements for the supervision of China's securities exchange market. In the face of the new situation in the securities exchange market of our country under the new normal, the new problems, the securities regulatory bodies, which are dominated by the Securities Regulatory Commission, bear enormous responsibilities. As Chairman Liu Shiyu of the Securities Regulatory Commission mentioned in a number of public speeches in 2017: "the SFC will perform its front-line supervisory duties in accordance with the law, serve the development of the real economy, and conduct comprehensive and strict supervision in accordance with the law." there are both advantages and disadvantages of such comprehensive supervision. It is inevitable that CSRC will ignore one another and have some problems such as concept deviation, too much intervention and contempt for procedure in the process of securities supervision. Insider trading has always been a stubborn disease and cancer in the securities trading market, which must be resolutely combated in order to safeguard our financial security and prevent securities risks. As the stock market enters 2017, the number of IPOs is expected to reach 500. However, as of May 24, 2017, there is only one delisting company in the stock market, which is a serious phenomenon of unequal number of delisting. It is also a risk that can not be ignored in China's securities regulation. In view of the above problems existing in China's securities exchange market, based on the empirical analysis, this paper combines a series of regulatory measures adopted by China's securities regulatory bodies to deal with the A-share market in 2016-2017. The problems exposed by these regulations are extended. This paper is divided into four parts. The first part analyzes the current situation of the three major problems in the securities market, such as the supervision duty of the Securities Regulatory Commission, the supervision of the insider trading and the supervision of the delisting mechanism. The second part discusses the problems existing in perfecting the supervision duty of CSRC from the aspects of clarifying the legal attributes of CSRC reasonably allocating its supervisory functions standardizing the means of exercising supervision and establishing the supervisory system of CSRC. The third part discusses how to improve the supervision of insider trading by perfecting the legal system of insider trading, ensuring the independence of securities regulatory agencies, investigating and dealing with insider trading, and perfecting the information disclosure system. The fourth part discusses how to improve the supervision of delisting mechanism from the aspects of perfecting the listing system, perfecting the standard system of delisting, weakening the government intervention, and constructing a multi-level platform.
【学位授予单位】：郑州大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287
[Abstract]:The stock exchange market is increasingly becoming one of the typical representatives of the modern market economy, especially playing an important role in economic development. 2017 is the second and important year of the 13th Five-Year Plan of China. Under the new normal, China's financial sector, especially the securities market, has encountered new difficulties and new risks. Just as General Secretary Xi Jinping summed up the relationship between finance and economy at the meeting of the political Bureau of the Central Committee on April 25, 2017: "Finance is alive and well." How to maintain financial security, prevent and defuse financial risks, and how to effectively supervise the securities trading market, "he said. To ensure that the securities market can efficiently serve the supply-side structural reform and economic development of our country, all of these put forward higher requirements for the supervision of China's securities exchange market. In the face of the new situation in the securities exchange market of our country under the new normal, the new problems, the securities regulatory bodies, which are dominated by the Securities Regulatory Commission, bear enormous responsibilities. As Chairman Liu Shiyu of the Securities Regulatory Commission mentioned in a number of public speeches in 2017: "the SFC will perform its front-line supervisory duties in accordance with the law, serve the development of the real economy, and conduct comprehensive and strict supervision in accordance with the law." there are both advantages and disadvantages of such comprehensive supervision. It is inevitable that CSRC will ignore one another and have some problems such as concept deviation, too much intervention and contempt for procedure in the process of securities supervision. Insider trading has always been a stubborn disease and cancer in the securities trading market, which must be resolutely combated in order to safeguard our financial security and prevent securities risks. As the stock market enters 2017, the number of IPOs is expected to reach 500. However, as of May 24, 2017, there is only one delisting company in the stock market, which is a serious phenomenon of unequal number of delisting. It is also a risk that can not be ignored in China's securities regulation. In view of the above problems existing in China's securities exchange market, based on the empirical analysis, this paper combines a series of regulatory measures adopted by China's securities regulatory bodies to deal with the A-share market in 2016-2017. The problems exposed by these regulations are extended. This paper is divided into four parts. The first part analyzes the current situation of the three major problems in the securities market, such as the supervision duty of the Securities Regulatory Commission, the supervision of the insider trading and the supervision of the delisting mechanism. The second part discusses the problems existing in perfecting the supervision duty of CSRC from the aspects of clarifying the legal attributes of CSRC reasonably allocating its supervisory functions standardizing the means of exercising supervision and establishing the supervisory system of CSRC. The third part discusses how to improve the supervision of insider trading by perfecting the legal system of insider trading, ensuring the independence of securities regulatory agencies, investigating and dealing with insider trading, and perfecting the information disclosure system. The fourth part discusses how to improve the supervision of delisting mechanism from the aspects of perfecting the listing system, perfecting the standard system of delisting, weakening the government intervention, and constructing a multi-level platform.
【学位授予单位】：郑州大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287
【参考文献】
相关期刊论文 前10条
1 吴华;;我国证券市场监管问题与对策探析[J];时代金融;2017年06期
2 陈彦斌;刘哲希;郭豫媚;;经济新常态下宏观调控的问题与转型[J];中共中央党校学报;2016年01期
3 郝万媛;;关于内幕交易的比较研究[J];法制与社会;2014年01期
4 何青;房睿;;内幕交易监管:国际经验与中国启示[J];经济理论与经济管理;2013年07期
5 韩骏;;英美证券监管体制比较分析及启示[J];青海金融;2013年01期
6 李文婷;;浅论我国证券内幕交易法律规则的完善[J];产业与科技论坛;2013年01期
7 李斌;;证券监管的成本、收益研究:评述与展望[J];会计之友;2012年11期
8 王建文;;中国证监会的主体属性与职能定位:解读与反思[J];法学杂志;2009年12期
9 宁虹超;;浅议证券信息披露制度——以内幕交易为视角[J];黑龙江省政法管理干部学院学报;2009年06期
10 李R，
本文编号：2168082
本文链接：https://www.wllwen.com/falvlunwen/jingjifalunwen/2168082.html
