美国金融改革方案对金融衍生品市场的监管反思  

Consideration of the Regulation System of Financial Derivatives of the United States for Financial Crisis

作　　者：陈欣[1] 

机构地区：[1]厦门大学法学院,福建厦门361005

出　　处：《河北法学》2009年第11期38-42,共5页Hebei Law Science

基　　金：2008年国家社会科学基金重点项目:<防范和化解国际金融风险和危机的制度建构研究>(08AJY013)的阶段性研究成果

摘　　要：美国金融监管体系一向具有"危机指向"的历史特征,同样地,在金融危机仍未结束之时,美国已经开始酝酿包含金融衍生品市场法律制度在内的变革。这些变革立足于金融衍生品的扩张与监管不足对市场系统性风险的影响,主张标准化的场外衍生品进入交易所交易或通过集中的交易对手进行清算,设立统一的监管体系规制具有类似经济性质的金融衍生品和证券。同时,对于对冲基金等市场参与者,也提出增强约束的建议。The financial regulation system of the United States was always modified after the financial crisis. Similarly, as the recent financial crisis doosn＇ t come to an end, the related innovation is getting under way. Based on the growth of the financial derivatives and the lacking of regulation, the proposal suggests the standardized OTC derivatives transactions to be executed in the exchange, the introduction of the central clearing counterparties and the harmonization of futures and securities regulation. In addition, the proposal demands the strict restriction of the hedge funds and other private funds.

关 键 词：金融危机 衍生品 监管改革 

分 类 号：F832.5[经济管理—金融学] F832.1