论证券公司的退出机制

On withdrawal mechanism of securities company

证券公司的退出机制是停止问题证券公司的证券业务使其退出证券市场的法律规范的总称。对问题证券公司主要采取资产重组、托管、行政接管、停业整顿、责令关闭或撤销以及破产等方式退出证券市场。在对国外证券公司的退出机制进行比较分析的基础上,提出在法律制度、限制政府的行政干预、建立多元的监督体系、设立投资者保护基金等方面完善中国证券公司退出机制的建议,对依法保护广大投资者权益、保障中国证券市场健康有序发展具有重要意义。

The withdrawal mechanism of securities company is the general name of legal norms which are used for stopping securities business of the problem securities company and then withdrawing the securities market.The ways of the withdrawal mechanism of securities company include asset reorganization,trusteeship,administration taking-over,suspending business for rectification,ordering to turn off or being revoked,bankruptcy and so on.Based on comparative analysis on the withdrawal mechanism of foreign securities company,the paper proposed that we should improve the laws and regulations about the withdrawal mechanism of securities company,limit government administrative intervention,establish the multiple supervision system,set up the investors＇ protection fund and so on.It has much important significance for protecting the rights of the investors and guaranteeing the healthy and orderly development of the securities market in China.