本文關(guān)鍵詞： “洪良國際”案 證券市場 監(jiān)管　出處：《遼寧大學》2014年碩士論文　論文類型：學位論文

【摘要】：自上世紀90年代初兩大證券交易所成立以來，我國證券市場得到了飛速的發(fā)展，促進了國有企業(yè)的改革，帶動了國家經(jīng)濟的發(fā)展。與此同時，對于證券市場的監(jiān)管機制也應(yīng)運而生，它是國家宏觀經(jīng)濟監(jiān)督體系中不可或缺的一部分，對于市場的健康有序發(fā)展也有著重大的意義：監(jiān)管是維護市場良好秩序的需要，是發(fā)展和完善證券市場體系的需要，它能保障廣大投資者的權(quán)益，，為證券交易的參與者提供準確全面的信息做后盾等等。 本文主要通過對“香港洪良國際案”進行分析，研究香港證監(jiān)會在對此案的監(jiān)管與處罰行為，取其好的方面給內(nèi)地地區(qū)的證券監(jiān)管以啟示，并提出了目前我國內(nèi)地地區(qū)在此方面的不足之處，兩方面加以總結(jié)，最終提出完善內(nèi)地地區(qū)監(jiān)管的各個建議。文章第一部分介紹了“香港洪良國際案”的始末，同時包括了香港證監(jiān)會對其監(jiān)管處罰的經(jīng)過；第二部分分析“洪良國際案”中證監(jiān)會的成功之處，包括時間上的及時性、監(jiān)管部門的各司其職、證監(jiān)會享有特權(quán)、香港地區(qū)設(shè)有專門金融法庭、保護投資者利益、懲罰力度強等方面；第三部分指出目前內(nèi)地地區(qū)證券市場監(jiān)管的現(xiàn)狀，包括內(nèi)地監(jiān)管部門決策缺乏科學性、政府干預過度、自律監(jiān)管未能有效實施、監(jiān)管法律法規(guī)不完善、處罰力度欠缺；還總結(jié)出“洪良國際案”對內(nèi)地證券監(jiān)管的啟示與借鑒，涉及以下幾方面：完善證券市場監(jiān)管法律，包括以保護投資者利益為先、加大處罰力度；設(shè)立合理高效的執(zhí)法體制，包括建立強制停牌機制、賦予證監(jiān)會特權(quán)、設(shè)置專門金融法庭；調(diào)動中介機構(gòu)力量，包括明確中介機構(gòu)的監(jiān)管職責、完善中介機構(gòu)內(nèi)部治理、設(shè)立中介機構(gòu)評級機制。 香港證監(jiān)會對“洪良國際”的監(jiān)管與處罰是一個經(jīng)典的有代表性的案例，從中我們獲得了許多對完善我國內(nèi)地證券市場監(jiān)管有幫助的啟示。通過這些啟示，完善我國的證券監(jiān)管部門，使證券市場可以健康有序的發(fā)展，最終促進經(jīng)濟的發(fā)展，提高我國的競爭力。
[Abstract]:Since the establishment of the two major stock exchanges in -10s, the securities market of our country has been developing rapidly, which has promoted the reform of state-owned enterprises and the development of the national economy. The regulatory mechanism for the securities market has emerged as the times require, it is an indispensable part of the national macroeconomic supervision system. It is also of great significance for the healthy and orderly development of the market: supervision is the need to maintain good market order and the need to develop and perfect the securities market system, which can protect the rights and interests of the majority of investors. To provide accurate and comprehensive information for the participants in securities trading, and so on. This article mainly through the "Hong Kong Hongliang International case" analysis, the Hong Kong Securities Regulatory Commission in the case of supervision and punishment of the case, take its good aspects to the mainland region of securities regulation to enlighten. And put forward the shortcomings of China's inland areas in this area, two aspects to sum up, and finally put forward suggestions to improve the supervision of the mainland. The first part of the article introduces the "Hong Kong Hongliang International case". At the same time including the SFC on its regulatory penalties; The second part analyzes the success of the SFC in the Hongliang International case, including the timeliness of time, the different duties of the supervisory authorities, the privilege of the SFC, and the establishment of special financial courts in Hong Kong. Protection of investors' interests, strong penalties and so on; The third part points out the current situation of the securities market supervision in the mainland, including the lack of scientific decision-making, excessive government intervention, self-regulation and regulation is not effective implementation, regulatory laws and regulations are not perfect. Lack of punishment; It also sums up the enlightenment and reference of Hongliang International case to the securities supervision in the mainland, which involves the following aspects: perfecting the securities market supervision law, including taking the protection of investors' interests as the first, increasing the punishment; To establish a reasonable and efficient law enforcement system, including the establishment of a mandatory suspension mechanism, the granting of special privileges to the CSRC, and the setting up of special financial courts; Mobilize the strength of intermediary organizations, including clear regulatory responsibilities of intermediary organizations, improve internal governance of intermediary organizations, set up a rating mechanism of intermediary organizations. Hong Kong Securities Regulatory Commission's supervision and punishment of Hongliang International is a classic and representative case, from which we have obtained a lot of helpful enlightenment to improve the supervision of China's mainland securities market. Perfect the securities supervision department of our country, make the stock market develop healthily and orderly, finally promote the development of economy and improve the competitiveness of our country.
【學位授予單位】：遼寧大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.51

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