On Perfection Of The Legal Framework Of Financial Regulation And Innovation

Finance is the core of modern economy. With the economic reforms and the socialist market economy, the financial permeate all aspects of social and economic life, and has become China's rapid economic development of the main driving force. Finance is healthy and stable development of direct determines a steady and orderly development of China's national economy. However, due to finance specific economic attributes of the monetary credit, which includes uncertainty and speculative factors make the development of financial risk as the financial system to develop, or even spread.Based on the financial awareness of the importance countries around the world for its own financial sector regulatory and formed several types of typical financial regulatory system. Each of the financial regulatory system produces all have deep historical, economic, and social backgrounds. The continuous development of all countries in the financial process, both for their own regulatory regime of the continuous adjustment and improvement, so that the financial regulatory system in the period of time to adapt to finance development and regulatory needs.How to effectively supervise the financial and to innovative timely has become a subject of study that countries have faced in the world. According to the modern rule of law requires that all economic activities should be included under the framework of the legal regulatory system. On the one hand, financial innovation and a strong impetus to the development of finance, but also the financial risk of showing a complex situation. On the other hand, financial innovation, financial regulation to guide and standardize the unreasonable behavior of financial innovation. How to strike a balance between the demand point, not only can promote financial innovation, but also the effective implementation of financial regulation, countries around the world have chosen to use legal means of financial regulation. In here, the construction of the legal framework for financial supervision issue has become a major issue.China's financial sector started late, the scale and level of financial development, and there is a large gap between the developed Western countries. Finance developed countries have formed a set of its own legal framework for financial supervision, while China's financial industry after three decades of development, learn from the advanced experience of other countries also formed on the basis of a unique regulatory legal framework, but there are a lot of imperfections. Especially in the current financial crisis, the Western legal framework for financial supervision has also exposed a lot of drawbacks. This is for our self-improvement of the legal framework for financial supervision and provide a useful experience and lessons learned.In the context of the current financial crisis, this article analyzes the financial regulatory system, the West there is the pros and cons, and its assessment of the regulatory reform package, based on the proposed legal framework for the construction of China's financial regulatory objectives, principles, improve the recommendations and innovative ideas.These beneficial exploration and research will bring to play a certain role in promoting the development of China's future financial stability。...