A Study On Securities Administrative Reconciliation System

With the continuous development of economic globalization,China's economy presents a gradual and stable growth.The establishment of securities market for nearly 30 years has played a great role in promoting the socialist market economy.As the development of China's securities market is still in the primary stage,there are still shortcomings and drawbacks in the market mechanism.A series of vicious events,such as false disclosure,fraud,internal trading and so on,have occurred successively in the securities market.In order to meet the audit standards of listed companies,the company false data,through collusion with the agency to issue false audit reports and other false means to facilitate the successful listing.These phenomena seriously endanger the stability of the securities market and harm the interests of investors.Small and medium-sized investors are The main body of the securities market,the protection of its rights and interests is related to the future development trend of the securities market.Article 1 of China's Securities Law emphasizes regulating the behavior of issuing and trading of securities and protecting the legitimate rights and interests of investors.It can be seen that the construction of a sound legal system of investor protection is an urgent problem to be solved.At present,China mainly from two aspects,one is to strengthen the information disclosure system,governance of the source of access to information.Second,ex post recovery efficiency upgrading.With the perfection of the law,the information disclosure has been strengthened gradually,but the problem of recovery has not been solved in time,and the remedy way is single.In our country,only litigation is the way to solve the problem,and the lawsuit should be filed in the form of The punishment decision made by the CSRC is the premise that the CSRC takes too long to deal with individual illegal cases during the investigation,together with the final appeal system of the second instance of the lawsuit itself,which leads to too long litigation time,and the recovery is not resolved in a timely manner.This article carries on the post-efficient recovery as the starting point,introduces the securities administrative settlement system.The administrative settlement of securities is a settlement motion put forward by the administrative party under investigation,which conforms to the law and agrees to its plan,and the administrative party compensates the damage caused by it first.It solves the problem of illegality but difficult to impute to fuzzy cases,and improves the efficiency of securities regulators in this kind of cases.The application of securities administrative reconciliation system can solve the problem of recovery in time,which is conducive to the efficient integration of regulatory resources.In this paper,the only administrative reconciliation implementation measures are clearly refined,which is conducive to its better implementation in the future.Through the study of administrative settlement of securities,it is found that the main body of the regulatory party and the opposite party of administration does not exist in itself.Sufficient,to both sides main body put forward the suggestion.Through the empirical study,it is found that.The securities fraud is colluded by many parties,through the establishment of a diversified supervision mechanism,the implementation of the registration system reform,multi-agent co-supervision,effective correction of information from the source.Securities regulators become independent and upgrade the legislative level.The internal self-inspection supervision mechanism shall be established within the other side of the administration.To provide a good investment background for small and medium-sized investors.Through the establishment of the administrative reconciliation system of whole securities and the perfection of its main body,it is beneficial for the small and medium-sized investors to seek compensation efficiently,to maintain the stable development of the securities market and to promote the prosperity of our economy.