论对“协议控制”模式的监管

Legal Regulation on Agreement-control

"协议控制"模式的监管走向近来为各界所关注。本文梳理与分析了这一融资模式的基本法律架构及特征、法律性质、产生与蔓延的规制环境及监管现状,探讨了监管改善对策。建议以证监会为主导,完善境外间接上市法律监管体系,统筹管理红筹模式、协议控制等境外间接上市架构,坚持宽严适度的约束与规范,注重国际证券监管合作。

The direction of regulation on ＂agreement-control＂ mode recently receives great attention.This paper combs and analyses this mode＇s basic legal structure,its feature and legal nature,also the regulatory environment for its emergence and proliferation,while discussing further regulation strategy.It suggests that a sound regulation system targeting indirect overseas listing activities including ＂red-chip＂ and ＂agreement-control＂ mode should be developed.CSRC should play a leading role in the system while proper regulation and international cooperation on securities regulation should be emphasized.