The Perfection Of The Legal System Of Financial Derivatives Supervision In China

Financial derivatives, emerging as a field of international financial business, development speed is quick scope spread wide have far more than the traditional financial products, plays a more and more unique role and the importance of continue to appear. After joining the WTO, China’s financial industry to the pace of opening to the outside world at a constant speed, the speed and scale of international capital input are increased exponentially; at the same time, with the rapid development of China’s economy, a substantial increase in the size of the private capital, investment demand is exuberant, these are financial derivatives market development has provided a powerful impetus.Financial derivatives trading convenience and low cost for investment provides a new platform, improve the efficiency of the financial, but at the same time, its leverage and high risk of in the lack of reasonable and effective regulatory induced a series of shocked the world of huge losses in the event and trigger the financial crisis the wake-up call for the development of the financial derivatives market in our country, along with the rapid development of China’s financial derivatives transactions have become increasingly frequent, financial institutions, enterprises and individual investors will be more and more in the face of all kinds of financial derivatives, how to sound development of the financial derivatives market is that we must face and solve the problem. Therefore, it has important theoretical and practical significance to discuss the legal supervision of financial derivatives market.From theoretical value, this paper is different from other studies of the biggest theoretical innovation, is through a variety of specific regulatory legal system to improve the research, and detailed elaboration; from the practical value, this article through the supervision of the whole process of the specific problems and detailed, through the supervision system defects and flaws, in order to achieve the purpose of continuous improvement of regulatory legal system, no doubt to the legislative practice and regulatory activities have a certain role in promoting.In addition to the introduction and conclusion, the main text includes first chapter to fourth chapter.The first chapter is about the overview of the financial derivatives and their supervision. In order to lead to the supervision of financial derivatives, it is necessary to start with the theory of financial derivatives. The concept of financial derivatives mainly discusses its legal nature, legal characteristics and basic classification. On this basis, the basic issues of the supervision of the concept, necessity, objectives and principles.In the second chapter, the paper analyzes the problems existing in the supervision of financial derivatives in China. Mainly from the five specific regulatory system is analyzed, that is, from the regulatory body system, market access system, risk prevention and control system, investor interest protection system and market exit system.The third chapter introduces the basic situation of the supervision of financial derivatives in the major developed countries and the enlightenment to China. In order to fully reflect the characteristics of the regulatory system in developed country, specially selected representative of the United States, Britain and Japan, describes the overview of the financial derivatives supervision legal system, discover the different characteristics of national regulatory system. In summary based on the advanced experience and reveal some enlightenment of financial derivatives supervision management concept to China brought in, including derivatives legal guidance importance, emphasize coordinated operation between the main control and both Derivatives Innovation and strict regulatory philosophy, these ideas will undoubtedly in our country is not perfect derivatives supervision tube legal system has a very important significance.In the fourth chapter, we put forward the suggestions to improve the supervision of financial derivatives in our country. In the third chapter, the current status and problems of the current supervision of derivatives are also put forward from six aspects, which is also the difficulty of this article. From the second chapter of the corresponding five specific regulatory legal system, it is pointed out that the specific suggestions for improvement, that is, from the regulatory body system, market access system, risk prevention and control system, investor interest protection system, the market exit system to improve. Among them, the perfection of the regulatory body system includes two aspects:government supervision and self regulatory supervision, the improvement of market access system, including examination and approval methods and access standards, risk prevention and control system, including control measures, trading settlement and credit rating, the perfection of investor interest protection system includes information disclosure and safeguard measures, the market withdrawal system includes the main exit, the type of derivative and the solution to the following problems. This is the complete dynamic process from the main regulatory body to the market withdrawal, and thus the comprehensive suggestions.