Research On The Perfecting Legislation Of Securities Trading Online In China

Since the 1990s, securities trading online has made a great impact on the global securities trading and even the global economy, it challenged the conventional means of securities trading online, and a improved legal system is in demand. Now securities trading online of our country is only at the stage of the consigned securities trading online, and the legislation of it is not mature, there isn't a basic law to regulate the internet trading, some regulations of securities trading online appear in some laws, administrative rules, departmental rules and judicial interpretations. Throughout these laws, administrative rules, departmental rules and judicial interpretations, we could easily find that the current legislation of securities trading online have the characteristics which pay great attention to the networks and information security and administrative rules. To a certain extent, these rules laid the legal foundation for the orderly progress of securities trading online and the legitimate implementations of the administrative rules, but the existing problems should be paid much attention too. For example, the specialized legislation of securities trading online which is in the low level is far from adequate, and it exists some law conflicts too. The hysteresis quality of law is not conductive to the further development of securities trading online of our country. So we should learn from the legal supervision experience of the foreign countries to keep improving the legal system of securities trading online supervision, it is pressing for solution. In accordance with the present conditions of our legal system of securities trading online, and under the principle of the equated function, security, neutralism balance, this article research the internet securities trading from four aspects. These four aspects are the market admittance system, the right and the obligation of the stockjobber and the investor, information disclosure system and the legal responsibility undertaking. The article gives some suggestions according to the actual conditions of our country in order to learn from the experience of foreign countries, to realize the logical and effective supervision, and to improve securities trading online.