Legal System Of China's Securities Regulatory Research

The securities market is the dispensible partion of our socialist marketeconomy.lt has played a great role in the development of our national economy. Compared with the general comodities market, the securities market has more risks and thus it is more unstable.If not went well, it will bring about economic or even social crisis. How to give full play to the function of the securities market ,how to prevent its failrues, is always a focus problem concerned by all the states. As to human's limitied rationality, regulation of Law is an effective means to prevent these failures. The practice of our country has proved that the development of the securities market must be regulated by law.Our securities market is a new and developing market. It has peculiarities not only in the formation, transaction and development of the market, in the status and function of the state, but also in the social polictical, economic, cultrural enviroment and so on. Thus our country's securities regulation and foundation of law system must stand above domestic objective reality while studying other country's useful experiences. But schoolers of our country have not researched deeply on this subject. Considering the reality of our country's securities market, this article presents expounds on the theory of securities regulation through comparative, positive law approach.This article consists of four chapterChapter I makes an analysis on the Securities-market Faliures and necessity of the securities regulation from an economic point of view, then analyzes the peculiarities of emerging markets and the trend of regulating securities markets by law.Chapter II exponds on the object of securities regulation and the system of its object, then points out that efficiency and justice is the major one in the system.Chapter III makes a comparative study of three different regulatory systems, drawing the conclusion that the ideal securities regulatory system should be one centering in governmented regulation and complemented byself-regulation.Chapter IV analyzes the failures in the legal system of Securities regulation and proposes corresponding advices.