Research On Anti-risk Legal Mechanism Of Financial Holding Company

From the tendency of finance innovation-universal operation being popular, most financial operator in international competition, have changed their operation system from separate operation to universal operation. In the various modes of finance universal operation, financial holding company has its advantages over others, as the reasonable and rational one, and consequently, becomes the main form of finance universal operation. Financial holding company, a holding company of universal finance group, can control others financial operator in the finance group by holding stock share, and in this way, the financial efficiency has been enhanced.In China, the reversion of"securities law"in 2005, has leaved a certain room for finance universal operation, and indirectly admitted the legislation of existence of financial holding company. In order to encourage the financial holding company, finance law has aimed at its running risk to guarantee financial security, this paper with the view of financial efficiency, has dissertated the constitution on anti-risk legal mechanism of financial holding company from supervision system, canonical operation in financial market, and self-discipline of financial holding company on the base of oversea legislation experience. The main purpose of this paper is to create feasible and invigorative legislation surroundings for financial holding company's market-operating independently, and making more profits furthest, in this way to contribute to construction of modern Chinese finance system.On the improvement of supervision system, three steps can be flown, the first step-the construction of mechanism on information totally shared, the second step-the Umbrella Supervision based on functional regulation, and the last step-mega regulation. On the canonical operation in financial market, the anti-risk legal mechanism of financial holding company can be devised from market admittance, capital adequacy, and market exiting. The strict principles of market admittance, the proper measures of capital adequacy, and the efficient procedures of market exiting can realize the canonical operation of financial holding company in financial market in legislation.On the self-discipline of financial holding company, the relationship of holding company and hold company should be definited properly, and the most important is that the improvement of the corporate governance structure of financial holding company, establishment of the "fire wall", and strict duties that the financial holding company bears.The main value orientation of financial law system focuses on financial efficiency, financial safety, involuntarily, giving way to it, and the anti-risk function of financial law system have transformed to profits seeking. In this value system, the strict measures taken by financial governance department should be changed from to proper measures. If the financial safety can be guaranteed, the supervision of financial governance department should give way to self-regulating and self-discipline of financial market, it itself should can avoid and clear up marketing risk. Financial operator should take on more responsibility, at the same time seeking profits farthest, which is the core principle in the constructing anti-risk legal mechanism of financial holding company.