| With the deepening of the international economic integration and the unceasing enhanced internationalization of securities market, more and more countries’ and regions’ have an increasingly amount of cross-border securities transactions.Accordingly, a variety of insider trading, manipulation of the securities markets,securities fraud and other illegal and criminal acts emerge, which makes the international securities regulatory problems becoming more and more complex. Besides,different countries or regions have different securities markets, regulatory laws, so that any countries and regions are unable to respond to these global regulatory problems alone. Securities regulators from different countries and regions must strengthen to cooperate and coordinate with each other. The International Organization of Securities Commissions (hereinafter referred to as the IOSCO) is the main and the most significant organizations in the international securities regulation. The reason is that IOSCO is a network made up by national and regional securities regulators, belonging to the informal international organization. It has released countless principles, standards,resolution, proposals,and reports,such as normative soft rules since its establishment,which provides a solution to cope with global securities regulatory problems. So, a full study of IOSCO can make China to make a full use of IOSCO, and enhance Chinese securities regulators to cooperate with other countries. The article adopts the methods of the historical analysis, theoretical analysis, the combination of normative research and empirical analysis. Seize the transnational regulatory network of the characteristics of IOSCO,and give a detailed study of its organizational structures,rules,impacts on China. I just hope that China will make a full advantage of IOSCO by avoiding its limitations, so as to put forward the countermeasures for China. The author just wants to put forward some countermeasures to China by studying the status of China in IOSCO.The specific countermeasures mainly include two aspects: firstly, to increase Chinese seats in the IOSCO, and to broke the monopoly of the developed Countries, such as to encourage Chinese self regulatory organizations joining into IOSCO, if necessary,giving them support in aspects of technology and capital, helping them to give a completed High Level Questionnaire, accordingly increasing the proportion of associate members and affiliate members; Secondly, to give full play to the role of China Securities Regulatory Commission, and to improve the voice of China in IOSCO. For an example,China Securities Regulatory Commission should take an active part in the activities of IOSCO, and gradually improve its influence in dealing with affairs in the international securities regulatory. |
