证监会监管下的资产证券化发展趋势研究

Study on the Development Trend of ABS Supervised by China Security Regulatory Commission(CSRC)

随着金融体制改革的不断深入,中国证监会于2014年11月推出了新版资产证券化规定。本文通过对比近几年来相关监管规定的变化,从框架结构、监管与制度体系以及销售发行与持续督导等三个方面详细分析了此次新规的变化,从中大致可以看出未来中国证监会管理下的资产证券化的发展趋势是取消行政审批,并全面加强事中、事后监管,强化重点监管和信息披露的真实性,最终实现按照市场化、法制化原则发展中国证监会管理下的资产证券化产品。

Due to the accelerating of the financial system reform, CSRC issued a new regulation for ABS in Nov. 2014. The paper compares the different versions in recent years, from regulation structure, supervision system to sales and continued regulation. It concludes that the development trend of ABS is terminating the administrative approval gradually, and strengthen the supervision in-and-after the process, especially focus on the point of the authenticity of information disclosure. It hopes to find a market-oriented and legal way finally.