The Legal Issues In The International Financial Supervision After The Financial Crisis

"The subprime crisis" named the global financial crisis in 2007 is the most destructive financial storm since the 1930s great depression. The crisis had great impact and influence on global main countries. After the introspection on the financial crisis, it is found that the financial crisis is one of the roots of financial liberalization and lack of financial supervision. Therefore, European,American countries and the European Union organization launched a deal with financial regulatory reform plan of the crisis. Meanwhile, the international financial organizations in order to maintain the stability of the international financial market also have raised the international financial regulatory standards.In this context, the article researched the law issues in the international financial supervision after the financial crisis and the improvement of Chinese financial supervision system. The article defines and explains the basic situation of financial supervision.It compared the change of U.S., U.K and international organizations for the aspects of financial supervision before and after the financial crisis.Meanwhile, it points out that the impact of the financial supervision system and countries such as the U.S. and U.K. response to the financial crisis. From this financial crisis, our country should draw some lessons and our financial supervision should get some enlightenments. This article aims to understand the financial status and reformation of the developed countries, which can be done to explore how the most effective banking supervision to maintain the efficiency of finances and also improve the safety of financial system. Thus, it made some suggestions and tentative plans to perfect their financial supervision system.This article is divided into six chapters.The first chapter is the connotation in financial supervision. This chapter explains that what is financial supervision, what are the implications of the financial supervision system, the purpose of the financial supervision, the principles of the financial supervision and its meaning. Making the related theory on scientific definition is useful for the solid theoretical foundation of the discussion. The second chapter discusses international financial supervisory pre-crisis status quo. This chapter discusses the U.S. legal system for financial supervision, Britain's legal system for financial supervision, emerging economies financial legal system for financial supervision, EU legal system framework for financial supervision, Basel system, IMF and other international financial supervision system.The third chapter discusses the financial crisis influenced international financial supervision system. This chapter introduces the financial crisis and the relationship of financial crisis and financial supervision system. Then it discusses the defect of the international financial supervision system before the financial crisis. It included that, but not limited, "regulatory race times", "regulatory arbitrage", poor co-ordination and limiting authority supervision, overlap and vacuum supervision, lack of macro supervision, lack of consumer protection etc. Finally, it discusses the defects of cross-border financial supervision system and the influence of international financial supervision system from financial crisis.The fourth chapter analyses the reform of U.S. and U.K. financial supervision system after the financial crisis. This chapter respectively discusses U.S. financial regulatory system reformed and U.K. financial supervision system reformed. Meanwhile, facing the financial crisis, U.S. and U.K two major western countries how to make the reform and response.The fifth chapter discusses after the financial crisis international financial supervision system reforms. This chapter focuses on the reform of the EU financial supervision system, the reform and response of G20 and FSB, Basel III, facing the financial crisis.The sixth chapter discusses the reform of our country financial supervision after the financial crisis.This chapter focuses on the main problems of current financial supervision and the enlightenment from the reform of international financial supervision. It provided some suggestions and tentative plans to perfect their financial supervision system.