Improve Self-regulation Of China's Securities Industry Association

Self-regulation of the securities association is an important part of the self-regulation system in the securities market. Improving the securities association's self-regulation will help to complement the whole legal system of securities supervision in China ,and to fulfill the organic combination between government supervision and market self-regulation, that is quite meaningful to make our securities market more open and fairer, and to give investors better protection. Therefore, this thesis analyses how to perfect the securities association's self-regulation by legislation in China.In the first part of this thesis, the author analyses the legal status of the securities association. It belongs to trade association of securities companies essentially, and it is self-regulation organization under the pattern of government domination securities supervision. In China, The Securities Association of China (SAC) needs to be more independent and unnecessary government intervention should be reduced.In the second part of this thesis, the author analyses the field of the securities association's regulation, which involves management on members and regulation on the securities exchange over the counter (OTC) market .In China, SAC should be admitted as the self-regulator on the OTC market by the securities law.In the third part of this thesis, the author analyses powers the securities association should be given by legislation. In China, the securities law should give SAC definite powers: power of rules making; power of investigation; power of discipline; power of arbitrating.In the fourth part of this thesis, the author analyses government's supervision to the securities association. In China, due to the defects of the self-regulation, the securities law should give China Securities Regulatory Commission (CSRC) powers to supervise the organization and self-regulation activity of SAC.