香港“洪良国际案”监管与处罚案例分析

发布时间：2018-01-25 00:55

本文关键词： “洪良国际”案证券市场监管　出处：《辽宁大学》2014年硕士论文　论文类型：学位论文

【摘要】：自上世纪90年代初两大证券交易所成立以来，我国证券市场得到了飞速的发展，促进了国有企业的改革，带动了国家经济的发展。与此同时，对于证券市场的监管机制也应运而生，它是国家宏观经济监督体系中不可或缺的一部分，对于市场的健康有序发展也有着重大的意义：监管是维护市场良好秩序的需要，是发展和完善证券市场体系的需要，它能保障广大投资者的权益，，为证券交易的参与者提供准确全面的信息做后盾等等。本文主要通过对“香港洪良国际案”进行分析，研究香港证监会在对此案的监管与处罚行为，取其好的方面给内地地区的证券监管以启示，并提出了目前我国内地地区在此方面的不足之处，两方面加以总结，最终提出完善内地地区监管的各个建议。文章第一部分介绍了“香港洪良国际案”的始末，同时包括了香港证监会对其监管处罚的经过；第二部分分析“洪良国际案”中证监会的成功之处，包括时间上的及时性、监管部门的各司其职、证监会享有特权、香港地区设有专门金融法庭、保护投资者利益、惩罚力度强等方面；第三部分指出目前内地地区证券市场监管的现状，包括内地监管部门决策缺乏科学性、政府干预过度、自律监管未能有效实施、监管法律法规不完善、处罚力度欠缺；还总结出“洪良国际案”对内地证券监管的启示与借鉴，涉及以下几方面：完善证券市场监管法律，包括以保护投资者利益为先、加大处罚力度；设立合理高效的执法体制，包括建立强制停牌机制、赋予证监会特权、设置专门金融法庭；调动中介机构力量，包括明确中介机构的监管职责、完善中介机构内部治理、设立中介机构评级机制。香港证监会对“洪良国际”的监管与处罚是一个经典的有代表性的案例，从中我们获得了许多对完善我国内地证券市场监管有帮助的启示。通过这些启示，完善我国的证券监管部门，使证券市场可以健康有序的发展，最终促进经济的发展，提高我国的竞争力。
[Abstract]:Since the establishment of the two major stock exchanges in -10s, the securities market of our country has been developing rapidly, which has promoted the reform of state-owned enterprises and the development of the national economy. The regulatory mechanism for the securities market has emerged as the times require, it is an indispensable part of the national macroeconomic supervision system. It is also of great significance for the healthy and orderly development of the market: supervision is the need to maintain good market order and the need to develop and perfect the securities market system, which can protect the rights and interests of the majority of investors. To provide accurate and comprehensive information for the participants in securities trading, and so on. This article mainly through the "Hong Kong Hongliang International case" analysis, the Hong Kong Securities Regulatory Commission in the case of supervision and punishment of the case, take its good aspects to the mainland region of securities regulation to enlighten. And put forward the shortcomings of China's inland areas in this area, two aspects to sum up, and finally put forward suggestions to improve the supervision of the mainland. The first part of the article introduces the "Hong Kong Hongliang International case". At the same time including the SFC on its regulatory penalties; The second part analyzes the success of the SFC in the Hongliang International case, including the timeliness of time, the different duties of the supervisory authorities, the privilege of the SFC, and the establishment of special financial courts in Hong Kong. Protection of investors' interests, strong penalties and so on; The third part points out the current situation of the securities market supervision in the mainland, including the lack of scientific decision-making, excessive government intervention, self-regulation and regulation is not effective implementation, regulatory laws and regulations are not perfect. Lack of punishment; It also sums up the enlightenment and reference of Hongliang International case to the securities supervision in the mainland, which involves the following aspects: perfecting the securities market supervision law, including taking the protection of investors' interests as the first, increasing the punishment; To establish a reasonable and efficient law enforcement system, including the establishment of a mandatory suspension mechanism, the granting of special privileges to the CSRC, and the setting up of special financial courts; Mobilize the strength of intermediary organizations, including clear regulatory responsibilities of intermediary organizations, improve internal governance of intermediary organizations, set up a rating mechanism of intermediary organizations. Hong Kong Securities Regulatory Commission's supervision and punishment of Hongliang International is a classic and representative case, from which we have obtained a lot of helpful enlightenment to improve the supervision of China's mainland securities market. Perfect the securities supervision department of our country, make the stock market develop healthily and orderly, finally promote the development of economy and improve the competitiveness of our country.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51

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