Study On The Prohibition System Of The Securities Market In China

The prohibition system of securities market plays a vital role in securities market in China and is an important part of the legal system of securities market.Having been established more than two decades,the prohibition system of securities market in China has been playing an important role in maintaining the good order of the securities market and protecting the legitimate rights and interests of small and medium-sized investors.At the same time,there are still many urgent problems to be solved in legislation and judicial practice.Therefore,under the background of strengthening supervision in China,it is of great theoretical significance to explore a series of problems existing in the prohibition system of current securities market in China and further improve the prohibition system of securities market in China.Through the statistics of the banned cases on the official website of CSRC,it shows that the securities law-breakers mainly operated the illegally-involving data as well as the data related to the life-long prohibition.According to the data,starting from the main types of illegal entry in the securities market and relevant legislation,and combining with the modification of the main types of illegal entry in the securities law,this paper analyzes the problems faced by prohibition system of the securities market in China.For example,In insider trading,there are some problems,such as the narrow scope of the subjects to regulate insider trading and the semantic contradiction between the provisions of the law and the subjects of insider trading;In the manipulation of the securities market,existing laws have few types of behaviors to identify the manipulation of the securities market,and many new behaviors of manipulating the securities market are not regulated,so the CSRC has nowhere to start in law enforcement;In the fraudulent customer,the current law and more than twenty years ago the administrative regulations are not different,the law lag is obvious;In information disclosure,China's laws on the disclosure of information on intangible assets are few and far between,even if there are provisions,there are some defects.At last,a series of suggestions are put forward to improve the prohibition system of the securities market in China,such as broadening the scope of the subject of insider trading legal liability,increasing the legal types of manipulation of the securities market,increasing the means against cheating customers,and strengthening the information disclosure of intangible assets.The sound operation of securities market in China depends on the development of the prohibition system of the securities market.The prohibition system of the securities market not only plays an important role in promoting the legal construction of China,but also has a broad application prospect for maintaining the good order of the securities market.