Power Control And Expansions From The Perspective Of Administrative Law?

At present, the CSRC has a supreme authority in the securities market in our country, while its legal status was not been clearly defined in the early days of the securities market in our country. This, on one hand, makes the CSRC unauthoritive in the process of exercising its power and authority; on the other hand, this may allow the CSRC break the limitation of laws in power exercise. Therefore, the analysis of CSRC’s status is the primary part of this thesis. In the22years’ development, CSRC has been regulated by a lot of administrative rules, Securities Law in1998and2005and so on. This is a process of constantly achieving balance between in power control and power expending. The function and power of the CSRC has been changing dynamically. The CSRC has different choice for the expending or control of its function and power in different time. More often, however, the CSRC’s administrative function and power are more likely to find a balance point of power expending and control on the condition of China’s legal systems. The CSRC is a representative of China’s administrative organs. Its pursuit of balance of function and power is more of a reasonable model of reference for our country’s administrative organs in exercising their functions and powers.In addition, securities industry is a highly specialized area, which has less regional and social limitations in terms of the study of systems and legal transplantation with highly international versatility. It provides the feasibility of transplanting securities regulation systems and related legal systems to a large extent. The United States and Hong Kong’s securities regulation system are always in the forefront of the world. The excellent operation of the securities market demonstrates the rationality of their securities regulation systems in these two regions. And the above rational system is pursued in this thesis:the administrative function is in an equilibrium state between power control and expending, which is also a reasonable model chose for the securities regulation system in China. This thesis, based on the fundamental characteristics of the securities regulations and the system innovation of the JOBS Act in the United States as well as the characteristics and balancing selection of the securities regulations in Hong Kong, probes into the referential significance of the securities regulation systems in these two regions for China’s regulation system innovation. Finally, Administrative Reconciliation System, which is used in the United States and Hong Kong securities regulations, is in exploring and been gradually implemented in China. This thesis hopes to bring new revelation for China’s securities regulation system through the analysis on the significance and feasibility of the securities law enforcement reconciliation system.