Securities Administrative Reconciliation System Research In China

Suggestions for establishing securities administrative reconciliation system has a long history, in2006, the China securities supervision and regulation department in October to "new" company law","securities law" annual symposium "expressed the hope that the securities market in our country for the first time on law enforcement reconciliation system, due to the securities market of our country, the administrative settlement is not yet mature, so late into the method. On February19,2014, the China securities regulatory commission official website released the CSRC chairman xiao titled "actively explore new regulatory enforcement of administrative settlement patterns", it said, should actively explore the securities settlement administrative law-enforcement mode, in order to effectively protect investors’ legitimate rights and interests. Now securities administrative reconciliation on the agenda again, in this context, based on the current situation of our country securities market regulation, identify a large number of securities regulation settlement system is relatively mature in national and regional legislation and law enforcement information, combining the current administrative law field settlement mechanism theory and practice of the status quo, as well as our country has just introduced the securities administrative settlement measures for the implementation of the pilot (hereinafter referred to as the "measures"), the analysis of the advantages and disadvantages existing in the of the procedures, developed in our country’s securities market and regulatory enforcement environment as the carrier, to find suitable for the system and mechanism of survival in the soil in our country, the author thinks that, according to China’s specific national conditions of our country at present stage should be taken to establish the administrative reconciliation rights in the field of securities law legislation mode, on the scope of application should be based on the "limit" reconciliation, set the conditions of the applicable securities settlement. Source and put forward the essence of the right of reconciliation is aggrieved investors trust, so the settlement should be relegated to the investors of all rights damaged, because our country securities civil compensation lawsuits have prepositional procedure, so the author suggested that the contents of the settlement agreement need not care about the question of whether or not to admit illegal, but in the settlement together for solving the problem of compensation of investors, so that more conducive to protect the legitimate rights and interests of investors. For the establishment of the securities regulation settlement system in China published their own views, for securities regulation exploring new path, hope to be able to alleviate the serious situation in securities regulation reality, maximum interest of the public and economic order, protect the lawful rights and interests of investors, also reflected the basic requirements of building a harmonious socialist society.