A Study On The Extraterritorial Application Of Securities Law

General Secretary Xi Jinping pointed out in his important speech at the Second Session of the Central Committee on Overall Law-based Governance that,"We shall accelerate the building of a system of laws for the application of foreign laws.Building of a system of laws for the application of foreign laws outside China." Improving the application of laws outside China is not only the need of the expansion of foreign trade,but also the time endowed by the times.With the development of economic globalization and Internet,the stock issuing and listing activities have broken through the geographical restrictions and are scattered in different corners of the world.To protect the interests of domestic investors and the stability of domestic securities market.The extraterritorial application of law has become the main trend of the international community.But the extraterritorial application of securities law in our country started late,and it was not until March 2020 that the second jurisdiction was added to the Securities Law,"Where the issuance and trading of any securities law outside the territory of the People’s Republic of China disrupt the market order within the territory of the People’s Republic of China and harm the legitimate rights and interests of domestic investors,the matter shall be dealt with in accordance with the relevant provisions of this Law and legal liability shall be pursued.".so far,China’s "Securities Law" of the extraterritorial application of the legal basis.But such general provisions and the lack of specific operational standards are not enough,and there are also some shortcomings in the cross-border supervision of our country.The market share of American and EU stock exchanges is an important part of global stock market,and its core is to maintain the stability of stock market and maximize the interests of investors.Based on the domestic law,the United States has constructed a set of perfect system of extraterritorial application of securities law,which provides strong protection to domestic investors and securities market.It is worth learning from China in many respects.Therefore,further analysis of its extraterritorial application of the securities law of our country what reference significance.Then,the author of the advantages and disadvantages of our country’s securities law should be established through comparative study of the extraterritorial jurisdiction of our country’s securities law should be established.The legislative system and overseas regulatory system of the securities law of our country shall be improved.