Online Securities Trading, Legal And Regulatory

Since the 1990's, following the development of information technology, the online securities trading had turned up as a completely new style in the line of business. Endowed with great vitality, it pointed out the way forward for the market and became widely accepted by the dealers and investors for its merits of low costs, high efficiency and breakthrough of restrictions by time and space. However, everything divides into two. Apart from the convenience brought to the investors, the online trading of securities carries hidden risks as well, such as the risks in trading, information, capital management and technology, which will increase difficulties for the job of the securities regulatory authorities in the world.China's history of the online securities trading is in less than ten years. As the current securities regulatory system had been set up before the large-scale development of the internet, only some simple and interim regulations with regard to the online trading of securities are available, which are insufficient for the solution to the problems arising from there. Thus, an urgent need to improve the relevant regulatory system comes up. In view of this, the article will discuss what to do for it by introducing the mature systems in the developed countries and linking to the situation in China.This article is divided into five sections:SectionⅠ:Introduction. The necessity of the study of online securities trading regulation.SectionⅡ:Overview of Online Securities Trading. Starting from the concept of online securities trading, then analyzing the advantages and risks of online stock trading.SectionⅢ:Overview of Internet securities trading regulation. Include the principles and purpose of online securities trading regulation, and the introduction of U.S. online securities trading regulation experience..SectionⅣ:Contents of online securities trading regulation. This part analyses the online securities trading regulation from the regulators' view as well as from the contents of the regulation.SectionⅤ:Legislation of online securities trading. This part analyses the current situations of the legislation of online securities trading, and gives a complete set of proposals.