Research On Reconciliation System Of Securities Administrative Law Enforcement

The stock market has always been an important part of the capital market.China’s securities market is in a period of rapid development and change,and securities crimes are more hidden and complex.The limited law enforcement resources and the long time of handling cases bring great difficulties to the security law enforcement.Up to now,the corresponding securities law enforcement measures have been unable to meet the needs of law enforcement,and the introduction of reconciliation mechanism to broaden the way of securities law enforcement has become an urgent need.In 2015,China issued the measures for the implementation of the pilot administrative reconciliation of China Securities Regulatory Commission,and began to actively explore the reasonable mode of securities supervision and comprehensively implement the reconciliation system of securities administrative law enforcement.The reconciliation system of securities administrative law enforcement focuses on the protection of investors’ interests and the standardized operation of the securities market.Complex securities market and increasing regulatory tasks need more effective administrative law enforcement mode.As a new law enforcement measure of securities regulatory industry,administrative law enforcement reconciliation system still needs to be improved.The first chapter makes a comprehensive comparative analysis of the securities administrative law enforcement reconciliation system and the securities administrative punishment,the securities reconsideration reconciliation,the securities litigation reconciliation system,and points out that the securities administrative law enforcement reconciliation system has the characteristics of administrative dominance,legality and arbitrariness.This paper makes a comprehensive analysis of the advantages and disadvantages of the securities administrative law enforcement system.It points out that the theoretical basis of the reconciliation system of securities administrative law enforcement in China is the theory of administrative discretion and the theory of contractual administration.The second chapter introduces the system of the administrative law enforcement and reconciliation of securities outside China,compares the system of securities administrative law enforcement and reconciliation with the securities administrative reconciliation system in the United States,France and other countries,and points out some shortcomings in the operation of the system.The third chapter points out that the main problems of the reconciliation system of securities administrative law enforcement in China are that the applicable conditions of reconciliation are not specific,the prescribed procedural system is vague,the supervision mechanism of reconciliation system is defective,and the investor protection mechanism is not perfect.The last chapter points out how to optimize the reconciliation system of securities administrative law enforcement in China.It points out that we should clarify the applicable conditions of reconciliation,improve the reconciliation procedure system,establish a complete reconciliation supervision system,strengthen investor protection and other measures to further improve the reconciliation system of securities administrative law enforcement.