A Study On The Legal Issues Of Internet Securities Transaction

With the development of the internet technology applying to the securities industry, the internet securities transaction has become globalized. However, there exist greater risk in internet securities transaction, and the application of law is quite different. It's the special characteristics of the internet securities transaction that make the securities law faces difficulty when governing this new area. The legal issues of internet securities transaction include that of competition, the information, security, and the supervision of the internet fraud, etc. It's the same problem to each of the country trying to regulate these issues so as to improve the development of internet securities transaction. The internet securities transaction in the Unites States of America is the most developed, so that its has abundant regulation experiences; Taiwan area has adopted some measures to improve the development of its internet securities transaction; IOSCO has published two reports concerning the internet securities transaction to study how to regulate this area.We have started the internet securities transaction, and have promulgated some related regulations. However, the internet securities transaction in our country is still at the initial stage, and the uncompleted legal system has barred the further development of this industry. So it's significant for the development of the internet securities transaction to study on how to regulate it. This article is an elementary discussion about this issue. Besides the Introduction and the Conclusion, the whole article was divided into four parts, totally 30,000 Chinese Characters.Chapter 1 is the Internet Securities Transaction and the Emerging Legal Issues. The first section of this chapter gives an introduction about the concept and types of the internet securities transaction, pointing out that the internet securities transaction include four types in the broad sense, and the online transaction is the one in the narrow sense that shall be the object of this study. The second section analyzes the legal issues brought up by the internet securities transaction. This article concludes that the legal issues include that of the competition, the information, the transaction safety and the supervision over the internet fraud.Chapter 2 is the Status in Quo of the Internet Securities Transaction in Our Country. This chapter firstly gives a brief introduction about the development and the characteristics of the internet securities transaction in our country, and then review the situation of the legislation, with the focus on the special regulations that govern the internet securities transaction. On the basis of that, the article analyze the defects existing in our legal system.Chapter 3 is the Comparative Study of the Internet Securities Transaction. The article chooses the regulation method in the USA, Taiwan area of China, and IOSCO for the comparative study so as to offer experience for our legislation.Chapter 4 is the Completion of the Internet Securities Transaction Regulation of Our Country. This chapter mainly discusses the legal issues of the internet securities transaction of our country. The first section explores the relationship between the commission system and the development of the internet securities transaction, pointing out the problem existing in our commission system and the completion way. The second section focus on the security of the internet securities transaction, mainly from the angle of the internet securities information and the electronic signature, and argues that we should take the foreign experience as reference so as to perfect our legislation. The third section discusses the supervision of the internet fraud, mainly on the foreign experience and the inspiration to our legislation.In the Conclusion, the article reviews the main contents, and gives a prediction about the future developing tendency of the internet securities transaction of our country.