The Research On The Perfection Of Our Offshore Financial Supervision Legal System From The Sub-prime Mortgage Crisis

Offshore financial is the product of the highly internationalized and liberalization, with its high-efficiency and high-returns financing function, just half a century it has grown to be an important part of the modern finance, playing an crucial role on the competition of the international finance. However, offshore financial is a two-edged sword. Because of the "both-ends outside" characteristic, its financial risks are much bigger than of the onshore finance, and correspondingly the difficulty of supervision increase.History has proved that the financial reform always coexists with the financial crisis. In the financial crisis by the second loan, the countries like united states, Germany and Britain all began to reform their the financial legal system, and pointed out that offshore financial centers has played a key role in the financial crisis.China’s offshore financial began about twenty years ago, compared with the united states and Malaysia, our legal system obviously lag behind, there are many defects in the supervision notion, regulatory mode, professional supervision system, risks monitoring system, withdrawn supervision system and so on, which is an important factor that impede the development of our offshore financial market. Therefore, if we want to fully participate in the international financial competition and get discourse power on the international monetary order, we must perfect our legal system of offshore supervision in the course of offshore financial markets building and development.At the same time, the financial crisis revealed that the law transplant should not be a blind copy process. Even in some countries which have the sound legal system like the United States and Malaysia, their financial supervision legal system also have certain deficiencies and vulnerability, and the uniqueness of our national condition ask us to maintain a more rational as well. In addition, the improving of our offshore financial supervision law should also be Prospective, from the most offshore financial centers in the world, in addition to the currency market that our country experiment at present, the securities market should also be an important part of the offshore financial market, and we should pay attention to the research and learn at this field in the process of building and improving the offshore financial supervision legal system.