Research On The Function Of Domestic And Foreign Governmental Administrative Organs In The Liberalization Of Commission System

After 10 years' development, the security market has become the key component of domestic economy in China. At the same time, the security companies went through a rapid growth. As a special industry, the security market has been supported and protected by central government. The income of security trade commission is above 50% of most security companies' main business income from the beginning of the establishment of the stock market. It is obvious that the security trade commission plays an important role in security companies' earnings.In may 2002, China Securities Regulatory Commission put forward the document "as for adjusting the security trade commission standard" that the original higher fixed commissions have to change to free commission within certain range, thus a violent competition broke out among the security companies. The administration department paid close attention to the development of the event. China Securities Regulatory Commission and The securities Association of China then began to research on how security administration department in other countries play their role in the free commission policy. This essay goes deep in some foreign counties' commission revolutions and how their administration departments play their role in the commission adjustment and intends to give some advanced suggestion to our country.At the end of this essay, givew a comparison to the commission policy revolution in some important securities markets and the measurements of the respective administration department made.At the end, draws some conclusions as follows:(1)After the enforcement of the free commission policy, the vicious competition among security dealers is temporary.(2)The securities association in each country plays an active role in the...