| In 2005, China revised the "Securities Act", the attitude of securities margin trading turned prohibiting into permitting. Later, China Securities Regulatory Commission, Stock Exchange and the Securities Industry Association issued a series of regulations, rules of operation, thus China’s securities margin trading system has a relatively laws and regulations and operating rules. China Securities Regulatory Commission launched a margin trading pilot project on March 31, 2010, and margin trading gradually developed in our country. However, when we attentively look to the elegant and operating rules, you will find that our guarantee margin trading system is composed by the method of trust system, and there are legal conflicts with China’s current <Security Law> and <Trust Law>. Securities margin trading is one of the important business of securities trading market, and margin trading is the core of the entire guarantee margin trading business, and is related to the legitimate interests of margin trading parties, or even influence to the stability of China’s securities market transactions. In view of this, I believe that in-depth study of margin trading guarantees for the protection of the legitimate interests can be helpful to the healthy development of China’s securities market. This paper expands writing with the method of the analysis of problems, learning the experience and problem-solving ideas, specifically analysis the legal issues on China’s guarantee margin trading. Then learn from the United States, Hongkong and Taiwan area to introduce the system of alienation guarantee in building a security margin trading in order to build experience. Finally combined with the actual situation in our country, putting forward the legislative suggestion to reconstruct our margin trading guarantee through the introduction of the transferring guarantee system. |
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