After The Era Of The Comprehensive Management Of Securities Companies In China Regulatory Countermeasures

In August 2004, CSRC, PBC, the judiciary and local government started the comprehensive management of securities companies. The management of the three years was completed in August 2007 in China. The historical risk of securities companies was resolved completely. Regulation of securities companies in China turns to the conventional stage from the special stage. The past two years, China's securities companies stood the rare large bear market in 2008 and the international financial crisis. However, changes in the external and internal of securities companies have brought new challenges for regulation. This thesis compares the regulation of securities companies between international countries, analyzes the current stage of China's securities companies regulation facing the new situation, the China Securities regulatory problems and deficiencies, and attempts to offer some suggestions on improving the supervision of securities companies in China.The thesis includes five chapters: At first, chapterⅠintroduces three theories on economics and finance about supervision of securities companies, includes The Public Interest, Financial Fragility and Regulatory Failures; ChapterⅡanalyzes regulatory models in USA, UK and Germany, compares the advantages and disadvantages of each model, Introduces financial regulatory reform direction in USA after the financial crisis; ChapterⅢprovides a brief introduction of the history of China's regulation of securities companies and current status , focus on the new situation of the current regulation of securities companies in China, and analyzes the challenges of these changes. ChapterⅣanalyzes the problems and deficiencies in China's regulation of securities companies. At last, ChapterⅤoffers some suggestions on improving the regulation of securities companies in China based on the concept of the previous chapters.