| As a new transaction mode in securities trading in the network ear, Online Securities Trading poses a challenge to traditional concepts, technology and regulation system of supervision while bringing opportunities to the development of the securities industry in China. However, compared with the present rapid developing situation of online securities trading, the corresponding supervision legal system is still not perfect, for example, the lack of a basic law to regulate the online transactions, low legislative level,the legislative blank, the legal conflict, the backward legislation, the ill-judged international coordination regulations and so on. The main contents of the legal supervising of securities trading, including transaction subjects, transactions, securities fraud and multinational trading, have evolved new features and generate new problems on the network. In order to solve these problems, we should fully consider the development of online securities trading and the legal environment at the present time, and learn from the advanced experience of the United States of America. We should find a right way to build the online securities trading legal supervising systems through the improvement of laws, the focus of supervision as well as the flexible arrangements of the regulations. We should aim at promoting the orderly development of online securities trading, trying our best to protect the investors and ensuring the fairness and efficiency. And we also have to follow all the principles of online securities trading, while strengthening the relevant legislation, establishing a complete legal supervision system and a technical regulator, promoting cooperation and coordination of all parties. We all expect that online securities trading can develop rapidly and orderly under the reasonable and scientific supervising.
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