The Improvement Of The Self-Regulation Orgnization In The Process Of Reform Of Non-Tradable Shares

Securities industry is provided with several special characteristics, for example non-entity and variability product, high specialty and sensitivity. All the characteristics mentioned above means the guild shall be impowered according to the high risk. Strict rules and good communication with the government will be helpful for the development of securities industry. The British securities guild has been beneficial to the development of English securities industry. As the advance of worldwide legislation, a lot of countries, USA included, has confirmed the action of self- regulation associations, and authorized them correlative power.Reviewing the legislation and development of Chinese stock market, traces of such impairment can be found in the policy-oriented market. The Securities Exchange Commission need a more accurate position in their daily work; the Self-regulatory Organizations have to be really built and be effective, especially the investor associations can benefit the medium and small investors in a more forceful way; it is vital to establish and complete the system of accountability on the securities market in order to make it possible that the illegal and irregular acts could be punished; further more, sincere culture shall help the RNS and the future construction of Chinese stock market.Definition and legal position of the Self-regulatory Organizations has been analysed. By comparing the legislation and development of...