我国证券场外交易市场的立法现状及监管制度研究

Research on the Current Situation and the Supervision System of China’s Off-board Security Exchange Market

一个成熟的证券市场应该包括场内和场外市场，我国现行证券法以规范证券场内交易市场为主，对容量巨大的场外市场的立法基本上处于“空白”状态，这不利于建立多层次资本市场体系，也不利于我国证券市场的健康发展。本文拟对加快我国证券场外市场的立法作一理论探索，希望我国证券场外市场不至于长期游离于我国证券法制之外。

A mature security market should consist of on-board and off-board markets. China＇ s current security law has mainly focused on the standardization of on-board security exchange market, but remained blank in the legislation regarding the massiv off-board market. This is not supportive to the construction of multi-layer capital market system, nor to the healthy growth of China＇ security market. This article makes a theortical exploration to accerlation of the legislation for China＇ s off-board security exchange market, and hopes China＇ s security market will not be long dissociated with the Security Law.