| In the context of global financial crisis, the demand for strengthen national and inter-governmental regulation over global finance prevailed. However, the existence of NGOs authority was ignored in the global financial governance system. This article aims to clarify and emphasize on the role of NGOs authority in global financial governance, and give it legal explanation. The article includes 4 chapters excluding the preface.Chapter 1. This chapter takes traditional model of international financial regulation into reconsideration in the context of global financial crisis, and point out that there are some inherited defects in the international financial regulation.Chapter 2. The chapter focuses on NGOs participation in formulation of global financial rules. Firstly, with the system equilibrium theory, the chapter tries to prove the rationality and legality of NGOs participation in formulation of global financial rules. With the analysis of the growing capability of NGOs authority in making rules, the chapter continues to discuss the necessity to recognize NGOs participation in global financial rulemaking. Then the chapter continues to redefine the meaning of law, and further discusses how IOSCO and IASB participates in the rulemaking of global financial areas, and then prove the possibility of recognizing NGOs participation in global financial rulemaking.Chapter 3. This chapter focuses on NGOs participation in the enforcement of global financial rules. Firstly, the chapter discusses the related legal issues with international enforcement of global financial rules, and continues its analysis on World Bank inspection panel. Then, the chapter discusses the related legal issues with domestic enforcement of global financial rules. Which mainly from two aspects: domestic enforcement by judiciary authority and administrative authority. On the basis of above discussion, the chapter gives some suggestion on Chinese lawmaking on such issues.Chapter 4. This chapter focuses on adjustment mechanism over NGOs participation in global financial governance. Firstly, the chapter discusses inherent conflicts in nature in NGOs participation in global financial governance. Then the chapter discusses the democratic deficits in the NGOs participation in global financial governance. The chapter continues to discusses the mechanism to correct democratic deficits inherent in NGOs participation in global financial governance, tries to find the possible way to solve the deficits on the basis of legality discussion.
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