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Legal Issues on Coordination Mechanism of Financial Supervision

Author: SunShengYuan
Tutor: LiuXiaoChun
School: Tianjin University
Course: Economic Law
Keywords: Financial regulation Financial Innovation Mixed Adjustment mechanism Functional supervision
CLC: F832.1
Type: Master's thesis
Year: 2010
Downloads: 81
Quote: 0
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Abstract

In the early stages of the development of China's financial industry, especially in the financial market is relatively closed conditions, in the field of funds between different financial intermediation to a limited extent, limited market integration in the context of separate supervision can largely prevent financial risks. In banking, securities and insurance industries to pass between, for the promotion of the healthy development of the financial sector, maintaining the stability of the entire financial system has played an important role. However, with the development of China's financial industry, the regulatory regime will inevitably face new challenges. All of this makes our country in the sub-sector regulatory regime must establish and improve financial supervision and coordination mechanism, sub-sector regulatory system established under the coordination mechanism is also present, China's inevitable institutional arrangements. In fact, China is currently working on improving the regulatory mechanisms of coordination between the beneficial exploration and efforts. But the absence of the lead department coordinating the regulatory body's regulatory activities, the lack of systematic institutional arrangements, various regulatory bodies fragmented, in reality, almost all the time we will encounter some difficult to define regulatory responsibilities and functions of the financial operations and activities. Therefore, the objective bound intersections and regulatory gaps. There will inevitably be at the intersection of power struggles in the blank spots and will inevitably lead to regulatory vacuum. Financial risk is often so broke, increased regulatory costs, reducing the effectiveness of supervision. Also in response to emergencies and crisis, it is the need for a pre-agreed coordination mechanisms. Even in the daily supervision and macroeconomic regulation and control process, but also need to continue the exchange of information and consultation in order to avoid regulatory duplication and vacuum, as well as contradictory policies and repeated. Therefore, coordination of financial supervision should be institutionalized to avoid becoming a mere formality, really play the role of regulatory harmonization. In short, the financial regulatory coordination and design of the system is the key; system design, attention to financial supervision and coordination mechanism is the primary authority and operability. Combined with China's actual conditions, the financial regulatory system is designed coordination mechanisms foothold article, this article distinct suggestions to establish the State Council led by the People's Bank of China's financial regulatory coordination mechanisms, and more systematic, specifically elaborated in this manner Finance regulatory coordination mechanism approach, content, and coordination mechanisms in this regulatory framework, constructed two-level coordination mechanism for monitoring the operation mode of decision-making mechanism and how to establish a workable proposal. However, due to China's financial supervision and coordination mechanism in the establishment and development process by a variety of factors and influence, but also exposed many problems, therefore, how to build a truly effective financial regulatory coordination mechanism remains an important and needs to continue explore the subject.

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CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Finance, banking system
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