Securities Market Self-regulatory Legal System Study

Securities regulation traditionally divided into self-regulation and government regulation, for the planned economic system, government regulation absolutely takes up the dominant position in the high-risk stock market, and the self-regulation plays a minor function, it can be said still at the initial stage. However, self-regulation is an obvious feature of the market economy system. The rules of self-regulation and the law constituted the regular system. Self-regulation have been gradually developed in the process of constructing our socialist legal system. Fully affirming the self-regulation in the securities industry, this article discussed the rationality, the necessity as well as the feasibility of it under the tendency of the securitization of market economy .The article thinks that regulation's key is both ensuring the role of the market mechanism and bringing us the desired results, at the same time reducing the government's interference and harms for the self-regulation mechanism. By analyzing the current development's actuality of china securities market, aiming at the current problems, the article thinks that the government should clean up the existing laws and regulations and design correlative legal system. expecting to give system support to securities regulation. And that promoting development to securities regulation. At the same time combine the constituted characteristics of Chinese securities market and the characteristics of the existing regulation system, establishing a regulation system that self-regulation and government regulation are equally important, and they can play a collaborative function for the system. For preventing regulation failure, expecting china securities market to have a sound development, and it can be able to cope with the world's securities market competition.This article is divided into five parts. The first part is the understanding of self-regulation of the securities markets. This part makes a preliminary analysis and concept defining for self-regulation of the securities markets through the interpretation and definition of the related concept of self-regulation. The second part is the sociology, economics and law analysis of the securities market's self-regulation. This part analyses the securities regulation from the perspective of sociology, economics and law. Elicit the advantages that compared to the government regulation, and securities regulation is an important element for the securities market's benign development and has its own unique irreplaceable predominance, it is an important means to perfect the current securities regulation system in china. The third part is the inspection of the foreign developed market's self-regulation system. This part inspects the major self-regulation models in the world, and analysis the self-regulatory role in all the stock market, whether that is focus on monitoring, self-regulation model or the consolidated regulation model, the self- regulation of the securities market is an important component of the stock market and plays an important role in the stock market. Through these comparatively using for reference and comparatively study, this part expect to make up the lack of research in theoretical fields as soon as possible format the theoretical system of securities self-regulation in china. The fourth part is the construction and perfecting of china securities self-regulation system. Along with market's power unceasing swell, the market economy rule's function expands increasingly, government regulation association is also having too many problems to tackle. When the market forces is growing grandness, the government regulation system is increasingly insufficient, but its role is multiple and complex, while compared with the stock market in china the self-regulation association misses independence and authority, the self-regulation association acts the role of administer for government. This part mainly starts with the securities association and the stock exchange, to discover the existent questions of china securities self-regulation, from macroscopicly and microscopically analyses china securities self-regulation's legal status and the self-regulation association's establishment and functions, defines clearly self-regulation and government regulation's relation, proposing that self-regulation is the foundation of government regulation, but is not only the supplement, for carrying on the effective self-regulation ,we must strengthen the self-regulation association's construction of function, and consummate the corresponding laws and regulations, and so establishing a system framing of securities self-regulation, fundamentally changing the stock market's present regulation system's poverty-stricken region, establishing a regulation system of taking the benefit as the central.