Legal Study On Perfecting The Withdrawal System Of China's Securities Agency

Finance is the core of the modern economy.The securities market is an important symbol to measure the running of the financial market in China.The security agency is an important subject of the securities market.The normative situation and operation level of the securities agency directly reflect the operation level of the securities market.With the long-term adjustment of China's stock market since 2001,China's securities business has been the industry-wide losses for several years;the securities agency operating pressure continues to increase,and there have been many "problem securities agency".One of the most important reasons is the lack of an effective legal system,causing many problems of securities agencies to withdrawal.On the one hand,"problem securities agency" cannot withdraw from the market in time,exacerbating the competition between securities agency;on the other hand,it's more importantly that: "problem securities agency" continues to stay in the market,reducing market efficiency,and also accumulating huge financial risks.The existence of a large number of "problem securities agencies" directly affects the securities of China's financial market,therefore,to study about the relevant legal issues of the withdrawal of securities agency,has become a major and urgent issue.In view of this,this paper carefully analyzes the status quo of the withdrawal of securities agency in China,which focuses on the bankruptcy exit.Through the analysis of relevant cases,some problems existing in the withdrawal of securities agency are found,and combined with the development of China's securities market status quo to make recommendations of improving the market-oriented withdrawal of securities agency.This paper mainly includes three chapters:Chapter one is mainly about introducing the status quo of the withdrawal of securities agency,and discussing the five modes of the withdrawal of securities agency in China from two aspects: administration and bankruptcy.Chapter two is about analysis of the typical cases of the withdrawal of securities agency and the comparison with the foreign securities agency.This part mainly analyses the root causes of the withdrawal mechanism from the aspects of administrative intervention,the lack of laws and regulations,and lays the foundation for the following key chapters.Chapter three is the focus of the full paper and it is also a summary of the previous chapter analysis.In view of some problems existing in the withdrawal mechanism,this paper analyzes and evaluates the existing exit mechanism in combination with China's relevant laws and regulations,especially the Bankruptcy Law,the Securities Law and the Company Law.And it also try to make some suggestions on improving the withdraw mechanism.As China's securities market moves forward,securities agency operating may encounter a variety of problems,and therefore the study of the securities agency's exit system should be carried out in depth.And it's imperative to build a market mechanism for the securities institutions based on the legal principles of the market.