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Study On China's Cross-border Securities Supervision And Cooperation System Under The Background Of Internationalization Of Securities Market

Posted on:2018-02-28Degree:MasterType:Thesis
Country:ChinaCandidate:X Y GongFull Text:PDF
GTID:2416330536975129Subject:international law
Abstract/Summary:PDF Full Text Request
Driven by the economic globalization,the internationalization of the securities market as a part of globalization shows an irreversible trend.To accelerate economic development,various countries and regions around the world take the internationalization of security market as an important way.The internationalization of the securities market has promoted the flow of capital in the international securities market and strengthened the links between the major securities markets in the world,but also put forward new requirements for the traditional securities regulatory system in various countries or regions.With the increasing relevance of the securities markets in countries or regions,the financial risks and crises of countries or regions are becoming more and more relevant,so the use of "pull the whole body" to describe the current international securities market is not excessive.In order to strengthen the domestic securities regulation and to prevent the impact of foreign capital on the domestic securities market,some countries have adopted domestic legislation to give the domestic securities regulatory authorities the power to cross-border supervision,while others through the signing of bilateral agreements and multilateral agreements to seek cooperation with cross-border securities between other countries.However,the practice has proved that cross-border regulation has little effect on the strength of a country,and there is a big problem in overseas investigation and enforcement.Therefore,only between countries can strengthen the supervision and cooperation in order to more effectively deal with the impact of international securities market challenges and challenges,improve regulatory efficiency,protect the interests of investors,to avoid the financial crisis.The main ways of Cross-border securities regulatory cooperation are bilateral cooperation,regional cooperation,and global cooperation.Form of bilateral cooperation is signing a mutual legal assistance agreement or memorandum of understanding.Regional cooperation often occurs in areas where the degree of economic and political development is highly consistent,such as the EU's securities market integration.Global cooperation relies mainly on international organizations such as the WTO,IOSCO,WFE and so on.Especially,IOSCO plays an important role in cross-border securities regulatory cooperationWith the deepening of the opening of the securities market,China has made some achievements in cross-border securities regulatory cooperation,signed a mutual legal agreement and memorandum of understanding with many countries,and actively joined the IOSCO and other international organizations.This paper first analyzes the connotation and the new trend and the development trend of the internationalization background of the securities market.Secondly,it analyzes the cooperation form of the cross-border securities regulation by exploring the supervision system of the developed securities market and the relevant documents published by the international organizations.This paper analyzes the problems existing in China's cross-border securities regulatory cooperation and the cross-border securities regulatory cooperation between China and the United States and the cross-border supervision and cooperation system arrangement between China and Hong Kong under the "Shanghai-Hong Kong-Tong" In the end,in order to cope with the challenges and shocks brought by the internationalization of the securities market,China should not only improve its own securities regulatory system and legal system,but also construct a diversified regulatory cooperation mechanism to enhance the right to speak on making securities regulatory standards on the issue.
Keywords/Search Tags:Internationalization of securities market, Cross-border securities regulation, International Cooperation
PDF Full Text Request
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