Studies On The Quitting Mechanism Of Securities Company

Capital market,securities companies of the market dynamic is the core and foundation of vitality.Securities company is one of China's main financial markets as well as China's economic activities an important part of the operation of securities companies and the level of profitability directly determines the development of financial markets,but also affect the interests of tens of thousands of small and medium-sized investors.However,in recent years with the rapid development of market economy, China's securities companies have been disposed of the failure of the phenomenon of more and more,Securities firms missing from the mechanism will not only hinder the internal mechanism of the market and give full play to the role,but also hindered the good and healthy development of securities companies,the quitting mechanism of securities companies has become a hot issue for the attention from all walks of life.If you do not take prompt action to perfect the mechanism of securities companies, securities companies will be difficult to regulate behavior,mature market economy is impossible to establish.On the other hand we should also see that the securities company has its main market is different from other ordinary specificity,if handled improperly, can easily trigger a systemic risk caused by the financial turmoil,widely not protect the interests of investors,social stability there is no guarantee.From the market development trend,China's securities market to ensure long-term stable and healthy development,institution building must be improved,and to begin to explore the establishment of great importance not only embodies the rules of market economy,but also in line with the actual situation of China's securities market development company to withdraw from quitting mechanism.Therefore,we should strengthen the supervision of securities companies to clean up the securities market,the introduction of healthy competition quitting mechanism,the issue of securities companies to remove barriers to exit,so that securities companies can be returned, optimize inventory,moving the market to improve the overall competitiveness of the securities industry.Scientific and reasonable quitting mechanism for securities companies to withdraw from the establishment of not only of great significance for the development of the securities market,but also guard against and defuse financial risks, the protection of China's far-reaching financial security.Along with regulating and developing the securities market,due to historical reasons,some securities companies highlights the growing accumulation of risk, high-risk securities firms and market risks from the disposal,become an important issue facing the securities market.In recent years,securities companies out of the market as a result of the legal quitting mechanism is not perfect,there is mandatory quitting from the course of executive-led policy-related issues.At the same time,the overall efficiency of China's securities companies lower,investors rely on the psychology of the Government, and the risk of awareness is not strong.China's securities companies to withdraw from the market although the relevant legal provisions and practice,but generally speaking,is not the system is not comprehensive,the building laws and regulations not meet the changing needs of the development of the market,therefore,to improve China's securities companies out of the market quitting mechanism,an important practical significance.By the U.S.sub-loan crisis of the global financial crisis has also spread to the regulation of our securities market is a higher demand,which requires us to improve the legal system and updating their ideas,get rid of administrative intervention in the traditional way to play the market self-regulation function,specifically related to the role of functional departments to strengthen the protection of the interests of small and medium-sized investors,securities companies to strengthen the personal responsibility of the management of the market from the traditional into the healthy development of market services,the establishment of a retreat can be,the sound development of the financial and securities markets.At the same time to strengthen financial cooperation with countries around the world to establish long-term communication and coordination quitting mechanism to jointly prevent and reduce financial risks to ensure that China's financial security.Through the study of comparative law that,in the United States, Britain,and Japan's securities firms out of the market quitting mechanism on the basis of our system to identify problems and difficulties in practice and learn from the advanced experience of mature markets,it also should be aware that the Western market model has its inherent flaws,we should improve the ability to identify,can not withdraw from the Western model of securities companies idolatry,but also can not copy.Should be combined with China's unique national conditions,a clear understanding of China's economic development stage,based on my analysis of the existing laws and regulations, at the same time learn from the advanced experience of mature markets,to select the essence of its dross,the status quo and a clear defect,gradual improvement of China's securities company to withdraw from the system with Chinese characteristics in order to establish an efficient and fair quitting mechanism of securities companies.At the same time,we must also recognize that the transition of China's emerging economic characteristics of Canada,as well as securities companies,the sensitivity and specificity of the economy,the securities companies out of the market system is a long-term process and can not be achieved ovemight,or less than too easily lead to financial market turbulence.Only in this way can truly rational and effective allocation of resources to improve the efficiency of resource allocation for the operation of China's securities market to achieve higher levels of dynamic balance,to achieve more robust and more efficient to lay a solid foundation for the operation.