Perfection Of Legal Responsibility Of "Gatekeeper" In China's Securities Market

The theory of "gatekeeper" originated in the United States in the 1980 s and formed in the early part of this century.The emergence of "gatekeeper" has its special historical background the United States began the development of the capital market in the early nineteenth Century,and in the early stages of market development,it is difficult for the two sides to reach an investment intention because of lack of trust.At the same time,the market intermediary organization came into being.With the continuous development of the market,the service scope of the intermediary institutions is constantly extending,and the market environment set up in this article is the securities market.At the beginning of the establishment of China's securities market,it is mainly through administrative means to control the size and quantity of listed companies.With the gradual liberalization of the securities market,companies with financing needs continue to increase.For the materials required by these companies in the process of listing guidance,the intermediary agency,that is,the assistance of "gatekeeper",which is discussed in this paper,also occurs in the process.With the "gatekeeper theory" introduced into our country,the relevant regulatory authorities began to attach importance to the "gatekeeper" supervision,however,problems have occurred,and improve the "gatekeeper" legal responsibility is urgent.The second chapter gives a brief description of the related concepts of "gatekeeper".In the third chapter,the author analyzes the dereliction of duty of the gatekeeper in the U.S.securities market through specific cases,and introduces the reform measures of the relevant regulatory authorities in the United states.In the fourth chapter,the author introduces the current situation of the legal supervision of the gatekeeper in China,and points out its shortcomings.In the fifth chapter,but also through the case analysis revealed the existence of China's "gatekeeper" of legal supervision in the process of the problem,at the same time in the United States experience to adapt to the proposed specific measures to improve the situation of our country.