Research Of Financial Supervisory Legal System Of America

How to prevent international financial risks and maintain their own security and stability of the financial system has become increasingly important. As a result, the financial supervisory laws will play an important role more than ever. With the rapid development of financial markets, the traditional regulatory and supervisory system is difficult to meet the requirements of the development of financial markets. The lack of necessary regulation and supervision of derivatives markets in America triggered a global financial crisis and economic recession.The new situation and new problems faced by financial markets require that financial supervisory laws must change accordingly. In most countries, the original financial environment with which the financial supervisory system established has ceased to exist. Within the new financial environment, the idea, target, measure and setting of institution are all faced with challenge. How to adapt to the requirement of the development of the market and the holding a fair and effective supervisory system is the chief question of every country.Firstly, the disquisition gives a brief introduction of the financial supervisory system of America. It was established in a certain cultural and social environment, influenced by the western political idea. The financial supervisory laws of America are mainly consisted of 3 parts: separation of powers, balance, and guarantee of the rights. The models of financial supervision system can be divided by the objects. It is a functional supervision which is on the basis of institutions. If it's divided by the subjects, it's a double bull monitoring system. The double bull monitoring system makes an efficient supervision to the institutions which could guarantee that all the financial institutions are under supervision. That makes a delicate relationship between the supervisory institutions: condition and compete each other. It's not only helps the central federal bank to implement the target of monetary policy, but also guarantees the stabilization and security of the commercial bank. It reinforce the supervision while protect the interest of depositor. The shortcomings of this system are: power cross, complicated and expensive. Due to the various number of the supervision institutions, the powers of different institutions become overlapped, that leads the supervision to a low efficient. And the banks lose many chances of profit. The measures of financial supervisions are: Antecedent legality supervision, concurrent risk supervision and afterward insurance supervision. In the concurrent risk supervision, they used the combination of investigation and offsite investigation. And the afterward insurance supervision refers chief to deposit insurance system.Secondly, the disquisition makes a particular analysis on the problems of the models of the financial supervision of America. 1.The relaxed supervision of home loan market. Mainly embodied with the standard of credit and repayment qualification of the borrowers, and the product design of the subprime loans.2.The lack of supervision of risky assets securitization. Because of the leading position of America, many countries those who got the subordinated debenture of America were influenced seriously. The stock markets crashed in the whole world.3.The lack of constraint force of mobility of capital and degree of capital adequacy4.The lack of supervision of the executives in the large financial institutions. The measure and decision-making aggravated the financial crisis.5.The relaxed environment of hedge fund aggravated the financial crisis global.6.The lack of evaluation and feedback of financial risky.7.The problem of the supervision system itself.Thirdly, the legal policy for America to extricate from financial crisis. The disquisition introduces the analysis of financial crisis from many people and the main content of the innovation plan and the comparison of two new plans.We can discover from the evolvement of the supervision system that each innovation had to balance the relationship between the elements: safety and efficiency, separate operation and mixed operation, creativity and supervision.Fourthly, the disquisition expatiate the inspiration from America to China. The disquisition reviews the system and problem of financial supervision in China. The disquisition introduces the institutions and functions of financial supervision and the current laws in China at first, then emphasize the chief problem of our system. The article summarizes the problems in 8 points.1.Uncertain legal system of financial supervision.1.Coexistence of overlapped supervision and no supervision 2.Non-institutional factors influence the harmony and efficiency of supervision.3.The conflict between monetary policy management and financial supervision.4.The lack of the measure of financial risky supervision.5.The vague supervisory target and the conflict policy.6.The lack of a healthy financial environment.7.No market aggregation strategy in finance. Separate regulation won't become a high efficient supervision.It's no doubt that the renovation of financial supervision of America is a confession of its defect. And we can get some inspiration from America: 1.Build a perfect financial supervisory legal system.2.Reinforce the function supervisory measure.3.Consummate the supervisory frame, build a correspond institution.4.Optimize the supervisory regulation. Reinforce the supervision of Financial Derivatives.5.Consummate the social credit system regulation. Improve the Information asymmetry between banks and consumers.6.Reinforce the supervision of non-deposit financial institutions.7.Pay more attention to the international cooperation of financial supervision.In the meanwhile, we should see that the financial market in China is still imperfect. According to the development of finance, our financial supervisory system would be adjusted and consummated. We should have the consciousness and mental preparation.