China's Securities Investment Advisory Regulatory Legal System Research

The Chinese legislative system on the regulation of securities investment advisers, which was set up in 1990s, has standardized the advisory services and promoted the advisement Industry. However, as the development of the advisement Industry, the illegal practices have become more and more, and serious criminal cases have been reported greatly. These give us a warning that there are lots of problems in current regulation legislative system. And, the coming "golden times" of the investment advisement Industry would greatly challenge the existing legislative system. So, the thesis analysts these problems and new challenges with perspectives of theory and legal transplantation, gives the concrete legislative suggestions to perfect the current legislative system. There are six parts in the paper:the preface, the first charter, the second charter, the third charter, the fourth charter and the conclusion.The preface firstly points out the research topics "the problems and perfect methods in the current legislative system on the regulation of securities investment advisers" with the introduction of the two illegal cases, then analysts the previous researches, show research approaches and methods of the thesis.CharterⅠ,defines the "securities investment advisement",analysts the relevant regulation theories:"Market Failure" and "Government Failure", explicates the regulation constituents:goals, bodies, and means, and shows the impacts of "Share Reform" on the regulation of securities investment advisers.CharterⅡ,introduces relevant laws of America, England, Japan and China Taiwan with the following aspects:definition of advisement; market permission; information disclosure; information isolation and responsibility.CharterⅢ, summarizes the current legislative system legislative system on the regulation of securities investment advisers, and points out the problems:immature legislative techniques, out-times legislative ideals, and imperfect relevant corresponding law system.CharterⅣ,puts up the suggestions to perfect the current legislative system. Revise the relevant laws, promulgate the Act of Securities Investment Advisers, perfect the "Chinese Wall", and establish the "Risk Reserves".The conclusion, shows the effects of securities investment advisement, reviews the problems and challenges of the current regulation system, and gives the suggestions.