The Research On Legal Issues Of Supervision On SIFIs

If Systemically Important Financial Institutions (SIFIs) operate in difficulties or crises, itwill not only generate a serious risk to other sectors for linkage effect between variousindustries and market in the financial system, but the consequence of "inter-related global",cause economic turmoil, triggering the economic crisis, and may even eventually lead tosocial crisis, political crisis and global instability chain reaction. National regulatoryauthorities continued to strengthen the supervision of SIFIs, which included in the scope ofthe macro-prudential supervision, to prevent systemic risk, and inhibit its enormous potentialnegative externalities and moral collapse of the potential risks in order to maintain financialmarket stability and economic stable development. The organization of internationalregulation and supervision authorities of various countries have to formulate and implementrelevant policies and regulations to regulate, to strengthen the macro prudential supervision,to guard against systemic risk. These reforms have much in common, new concept and newtrend reflects the post crisis era legislation of international financial supervision reform. Ourregulators have gradually recognized the need for strict supervision of SIFIs, and haveidentified macro-prudential regulatory principles, as well as the Size, Interconnectedness,Substitutability, Complexity of identifying standards and configured principled guidance andrecommendations, but how to identified SIFIs scientifically, monitor SIFIs effectively andestablish effective risk management mechanisms and equip to adapt to regulatory rules andother aspects, so that the legal construction supervision in China remains to be done. It onlyneeds dialectic sophisticate with the international regulatory organizations and nationalregulatory measures useful in practice, more needs to be based on the foundation, the status,structure of financial and its own characteristics of systemic risk in our country, tailored toexplore migration and local systems balance, to establish a comprehensive and whole processseamless supervision engaged in before, during and after the event, to build the financialregulatory system with Chinese characteristics.