Research On The Improvement Supervision Function Of China Securities Regulatory Commission

The China Securities Regulatory Commission(hereinafter referred to as the CSRC)is a subordinate institution under the State Council.The CSRC supervises and manages various activities in the securities market through measures such as the legal economy.The development of social economy is inseparable from the development of the capital market.The two are closely related and support each other.Supervision and management make the securities market more stable and have a very obvious effect.However,the time for the implementation of securities supervision and management in China has been relatively late,and the relevant supervision and management system has obviously lagged behind the development speed of the securities market.The status of this mismatch has affected China.The normal development of the securities market.The CSRC has a management and service function for the Chinese stock market.First,it is necessary to establish a unified system for securities futures supervision and management,and vertically manage securities and futures regulatory agencies according to relevant regulations.Secondly,the CSRC can further strengthen supervision and management of the securities and futures industry and strengthen supervision of securities and futures exchanges,securities investment fund management companies,securities and futures operating institutions,listed companies,securities and futures investment advisory institutions and other institutions engaged in securities and futures intermediary business.The quality of information disclosure can be significantly improved.Third,further strengthen the prevention and resolution of financial risks in the securities and futures markets.Fourth,the CSRC is responsible for formulating relevant laws and regulations for the securities market,formulating corresponding policies and policies for the management and development of the securities market;formulating annual plans for the development of the securities market;guiding and coordinating related activities in the securities market;and guiding the pilot work.Fifth,the CSRC will conduct unified supervision of the securities industry market.The government oversees the securities issuance market to ensure the legal operation of the securities market.The challenge faced by the China Securities Regulatory Commission is mainly to supervise the content of securities issuance activities in addition to the main content of securities activities.The supervision of the securities issuance market is a major component of the government's regulated securities market.Only by strictly supervising the issuance market and listed companies can the investor's rights and interests be protected from infringement.China's securities market has been in existence for more than 20 years since its establishment.It has achieved good results in supervision and has established a relatively complete supervision system.The issuance system hasalso been transformed from an approval system to an approval system.Finance is at the core of today's economic system.The securities market is an important part of the financial market and has a decisive influence on the development of the capital market.Economic researchers are theoretically arguing whether it is necessary to constantly supervise the market.In the case of a constantly developing market economy,market failure caused by lack of fairness,public goods,etc.,leads to the failure of optimal allocation of social resources.As part of the market,the stock market also has problems with market failures,and these reasons for market failures are that the market has no way to solve it by itself.Therefore,it is necessary to intervene in the market through the government.Because China's establishment of the securities market is relatively late,the regulatory body has certain defects in legal orientation,functions and distribution of benefits.Due to the interest-seeking behavior of interest groups,regulatory costs,information failure,incentives and constraints,the efficiency of securities regulation is very low.Through the study of securities supervision theory,under the premise of fully analyzing and understanding the problems,and drawing on foreign advanced experience,an effective method to solve some problems in securities supervision is put forward.I hope that through my own research and analysis,although it is impossible to completely change the current regulatory status of the securities market,there are at least some suggestions for improvement.