The Change Of American Legal System Of Financial Regulation And Its Enlightenment To China

Finance is the core of modern economic operation, and also reflects thedevelopment of the national economy as a whole, a barometer of the health andwell-developed financial markets can not be separated from sound andcomprehensive regulatory legal system. Throughout the history of the developmentof the global financial innovation, accompanied by a corresponding reform ofifnancial development regulations，improve, and established the United States as aleader in the global financial reform and development，its legal system for the entirefinancial development played a very important role on the world financialdevelopment has an important guiding significance. The author of this article toexplore the development of the U.S. financial regulatory system, regulatory legal andfinancial development of each course，hope that can provide a useful reference forthe construction of legal system of financial regulation, the functioning of therelevant regulatory authorities.In this paper，the author of a four-part discusses, the ifrst three of the review,analysis of the legal system of the U.S. ifnancial regulatory changes, looking forExperience; last part on the basis of previously explored, combined with the trend ofChina’s financial development, ifnancial and legal status quo，put forward China’sifnancial reform proposals, following the author a brief introduction:First of all, the first part of the author of great significance rfom there-regulation and deregulation, secuirties, banking, insurance business diversificationas well as the Financial Services Modernization Act (draft) established ifve areas, thecontext of time to explore the United States early to modern the financial regulatorysystem, which found that the entire history of the development of the U.S. financialregulatory law is strict ifnancial regulation mode to the rfee development ofderegulation schema evolution, by sub-sector, the financial mixed operation industrydevelopment status be recognized by law.Secondly, in the second part of the author to the laws of the Financial Modernization Act is modeled on the background of the times rfom the introductionof the law，the intent of the legislative authoirty and the content of the law twoperspectives on the changing financial sub-sector business model, established themodern financial industry mixed operators, the financial industry "to monitor" theclimax of the entire development process.Again, in the third part I consider the three aspects of the U.S. financialregulatory system change after the subprime mortgage cirsis. Atfer the outbreak ofthe financial cirsis，the U.S. Congress passed three emergency legislation, theregulatory authorities have also introduced emergency measures to deal with, inshort, the financial cirsis has made the U.S. ifnancial regulatory authorities profoundreflection of the problems of the financial regulatory system.Finally, by exploring the interaction of the entire U.S. financial developmentand legal supervision, I learned should always grasp the pulse of the financialdevelopment in the promotion of financial development and innovation process，toprotect the interests of consumers，through continuous improvement, thedevelopment of regulatory law, ifnancial development can be effective supervision;,combined with the development of China’s financial situations and learn from theU.S. ifnancial regulatory law development expeirence, we should establishcoordination of financial supervision departments to avoid the regulatory vacuumstrengthen information disclosure，improve financial market transparency investmentprotection owners1equity to provide effective maintenance of the three ways toestablish a ift and healthy development of the legal system in China’s financialmarkets.