On The Legal System Perfection Of The Securities Information Supervision

Under the system of our special emerging and switcher market, the problems arising from the securities market have Chinese characteristics. The illegal dealing about information disclosure and operation in the securities market had gravely damaged investors' benefits and confidence, and blocked the healthy and orderly development of securities market. The theme of paper is how to strengthen and perfect securities information legal supervision.In Chapter One, the paper mainly discusses the general theory on supervision, and define securities supervision and securities information legal supervision. And the securities supervision blocks those abused action what some people make use of advantage condition to do. But information is the core in the market. The illegal activities in securities market are directly related to the information disclosure. Information legal supervision is the important means that government administer the securities market. The paper systematically introduces the legal system of securities information supervision in China, as a basis for further discussion in the following paragraphs.In Chapter Two, for the purpose of demonstrating the necessity of securities information supervision, the paper analyzes the general theory on that. Securities market is an information market essentially. Offering information always is limited and imperfection. Because the activities that control securities market artificially distort the price of securities, these do harm to the system of securities market. So the law must prohibit that. At the same time, whereas the Chinese characteristics in securities market, the paper emphatically discusses the watchful problems in securities information legal supervision, such as secutities' quick development and legal supervision cost.In Chapter Three, through a systematic demonstration study of illegal activities such as information disclosure, insider trading and manipulation by many representative cases, the paper analyzes the reasons why they exist and discusses the status quo as well as problems of securities information supervision. In securities market the activities impaired the small-medium investors hige frequency. These display the limitation to securities information legal supervision. And it is far off investors' expectation.In Chapter Four, the paper puts forward the suggestions for further strengthening and perfecting securities information legal supervision in the legislation and execution of law. For strengthening market function and increasing market efficiency ,this need further perfect capital market legal system, and amend market function mechanism, and drive multilayer market system construction. At one time, this also need supervise the work of execution the law, and actively study new thing or problem after reform of non-tradable shares. Law should carry out Inc, medi-institution and managers' legal responsibility. In order to constantly improve securities information legal supervision level, law should strengthen information disclosure and set up the risk early warning.