On The Supervision Of The On-line Securities Exchange

With the increasing rope of network technology ,on-line securities exchange have become a new form of securities exchange.Since it has the advantage of high speed ,low cost and advanced means ,It has been welcomed widely because of its strong life since it came into being,and has become a new pet in the present securities market.However,when people are enjoying the convenient service provided by on-line securities exchange,they are also stranded by its negative influence all the times,on-time securities exchange fraud ,among other thing ,is an important aspect.Compared with the fraud means used in the traditional securities exchange,on-line securities exchange fraud has it's own features,For example,the act of fraud is concealed and it's not easy to be perceived,the fraud act can cause the investors great losses.Moveover,because of network's hidden transnational nature,it's very difficult to prosecute and regulate the on-line securities exchange fraud .These new features, continued with the traditional securities exchange fraud,cause great damage to the society .Therefore,how to supervise effectively this new kind of transaction means and how to integrate the on-line securities exchange with the present securities law of all counties have become the most important task for the securities regulatory organ. However, since on-line securities exchange came into being not long age. The legal system of supervising it effectively is still at preliminary stage. Therefore, the paper modeled on American legal system of supervising on-line securities exchange, has inquired into the basic problems of preventing on-line securities exchange fraud.The paper is composed of six parts. Part one is the introduction, it has pointed out the necessity of significance of studying on-line securitiesPart two is the survey of supervision of on-line securities exchange fraud. At first ,the development of on-line securities exchange and its b; operational mechanism are analysed ; Secondly ,the present situation and cause of on-line securities fraud are formulated ,then the four part common types of on-line securities fraud are listed.Part three, four and five analyse emphatically the main contents of on-line securities fraud, namely the supervision of the listed company, the supervision of broker and the supervision of the third.Part six inquire into the international practice of supervising the on-line securities fraud. This part, based on the two advice report published by the international securities regulatory organ, has introduced the international effort of regulating effectively on-line securities fraud.