论文部分内容阅读
场外交易市场,是多层次资本市场体系中一个重要的组成部分。有效的市场监管,对于场外交易市场的发展壮大和安全运行至关重要。本文回顾了我国场外交易市场的发展历程,并分析了场外交易市场的监管现状及存在的问题。在总结境外场外交易市场主要监管模式的基础上,提出我国宜采用自律管理为主、政府监管为辅的综合监管模式。最后,本文提出应该以市场准入监管、交易行为监管、信息披露监管等基本内容为支柱,构建中国的场外交易市场监管制度。
OTC market is an important part of multi-level capital market system. Effective market regulation is crucial for the growth and safe operation of the OTC market. This article reviews the history of China’s OTC market and analyzes the current regulatory status and existing problems of the OTC market. On the basis of summarizing the main regulatory model of overseas OTC market, this paper proposes that our country should adopt a comprehensive regulatory model with self-regulation as its mainstay and government regulation as a supplement. Finally, this paper proposes that China should build a supervision system for OTC markets based on the basic contents of market access regulation, trading behavior regulation and information disclosure regulation.