我国证券法域外适用问题探究

Research on the Extraterritorial Application of Securities Law

在证券市场全球化的背景下,我国《证券法》增设了域外适用条款,意在提高跨境证券监管水平,同时反制外国不恰当的证券域外管辖,但该条款的用语过于宽泛,留下了较多立法空白,难以有效指导我国证券法的域外适用。美国作为发达的证券市场国家,有较为完备的证券域外适用规则,我国可以考虑借鉴美国的相关经验,增加我国证券法域外适用条款的明确性和可适用性。

In the context of the globalizationof the securities market, our country’s Securities Law has addedextraterritorial provisions to purify the investment environment of thecross-border securities market, and at the same time counter the inappropriateextraterritorial jurisdiction of foreign securities. However, this provision istoo broad, leaving many legislative blanks, and it is difficult to effectivelyguide the extraterritorial application of my country’s securities law. As adeveloped country that has mature stock market, the United States hasrelatively complete securities extraterritorial applicable rules. Our countrycan consider learning from the relevant experience of the United States toincrease the clarity and applicability of the extraterritorial applicableprovisions of my country’s securities laws.