Research On Party Commitment System Of Securities Administrative Law Enforcement

The party commitment system originates from the administrative reconciliation of securities and futures administrative law enforcement,which was piloted in 2015.On the basis of clarifying the relevant concepts and historical evolution of the party commitment system,the current problems are found through the current provisions and previous administrative reconciliation cases,so as to seek the optimization path of the party commitment system of securities and futures administrative law enforcement in line with China’s national conditions.After several years of pilot and modification,some problems still exist in the party commitment system of securities and futures administrative law enforcement,specifically including: the imperfect supervision mechanism of administrative law enforcement agencies and the lack of supervision and standardization of administrative priority rights,which may lead to the abuse of administrative discretion;Lack of judicial supervision mechanism and failure to play the supervisory role of judicial organs;Democratic supervision channels have not been opened,and there are no democratic supervision mechanisms such as hearings.The protection of investors is insufficient.The protection of investors is not only reflected in the monetary compensation after the damage,but also includes the protection of investors’ rights such as the right to know and the right to participate.However,the existing provisions do not specifically involve this;The connection mechanism between civil litigation mechanism and party commitment system is not perfect,and the preconditions of securities civil litigation have not been cancelled.The relief protection of the rights of the parties is insufficient,and the parties’ right to state and defend is not fully guaranteed in the process of application,acceptance and negotiation;Compared with the previous departmental rules,the right of the parties to file administrative reconsideration and administrative litigation is cancelled;The suspension procedure is not perfect,which is not conducive to the equal dialogue between the parties in the negotiation process.To continue to optimize and improve China’s party commitment system,we should constantly improve the supervision mechanism of administrative law enforcement organs,standardize the internal law enforcement process of law enforcement organs,introduce judicial supervision mechanism and broaden the channels of democratic supervision.Further strengthen the protection of investors and ensure investors’ right to know and participate;Improve the connection mechanism between investors’ civil litigation and parties’ commitment to ensure the realization of investors’ litigation rights;Optimize the administrative organ’s suspension of investigation process and protect the rights and interests of the parties.