“中国墙”制度——证券业的自律规范

System of the "China Wall"——Self-disciplining Standard for Securities

“中国墙”制度是英美等国综合性金融机构防范不同业务线之间利益冲突和内幕交易的一剂良方。“中国墙”制度作为一种自律机制,只能减少内幕交易,但不能从根本上杜绝此类违法行为,还需要相关制度的配合。我们不应当对“中国墙”制度过于苛刻,作为一种管制内幕交易的自律机制,它是成功的,值得我们借鉴。

The system of ＂China Wall＂ is a special method for preventing interest conflicts and secret business between different business fields in some British and American financial giant bodies. ＂China Wall＂ as a self-disciplining mechanism will help reduce secret business, but cannot completely eradicate these illegal acts, and thus needs institutional complement. We ought not to be too critical of the system of ＂China Wall＂. As a self-disciplining system for controlling secret business, it is successful, and worth referential to us.