Legal Study On Illegal Operation Of Securities Business

Operation of the securities business is an important part of the securities market. With the warm-up of the securities market and the rebound of investors' passion, the illegal operation of securities business has tended to spread again, and seriously affected the normal order of securities market and harmed investor's rights and interests. The legal regulation of securities business operation link is one of the most important components of securities legislation, and gains great attention in those countries no matter whether they have full-developed securities market or newly-cultivated securities market. Illegal securities business activities rarely happened outside, however, although our securities regulatory agencies have issued a series of notices several times to ban the illegal operations of securities business, the situation has not improved. Based on the comparison of the securities business market environment and the legal system of other countries and regions, and concerning the regulation status to illegal operation of securities business, the thesis brings out the proposal of the Prevention and Punishment to the illegal operation of securities business.Except the introduction, this thesis included 4 parts. Firstly, the definition of "securities" in securities business , the distinction of "lawful" and "illegal", and types of illegal operation of securities business. From the comparative point of view, the thesis introduces the illegal operation of the securities regulatory system in outside countries. Secondly, the thesis analyzes the status of illegal securities business operation from the perspective of causes, characteristics and impact, reflecting the defects and the particularity of China's securities market, and the necessity and severity of improving the regulatory system. Thirdly, focused on the access system of securities market, management of securities practitioners, lacking of Securities regulatory agencies cooperation, and lack of liability, the thesis analyzes the existing prevention and punishment legal system to the illegal operation of securities business. Finally, from the theoretical point of view of the regulation system of illegal operation of securities business, the thesis analyzes the legitimacy and necessity of regulating illegal operation of securities business, and gives legal suggestions to improve the punishment system, sound securities market structure, standardize the Securities practitioners'management and guide rational investment.