试论我国场外交易市场法律制度的完善  

How to improve the legal system for the OTC market in China

作　　者：李响玲[1] 周庆丰 

机构地区：[1]上海证券交易所,上海200120 [2]浙江清华长三角研究院,浙江嘉兴314006

出　　处：《证券市场导报》2010年第9期58-63,共6页Securities Market Herald

摘　　要：场外交易市场是多层次资本市场中的重要组成部分。目前我国亟需借鉴资本市场发达国家的经验,加快建设场外交易市场,进一步完善资本市场体系。但目前我国场外交易市场在法律上仍处于非常尴尬的地位,相应的制度建设滞后,法律法规的配套性也有待加强。本文在分析我国场外交易市场立法现状的基础上,提出必须进一步完善相应法律制度,以明确场外交易市场的法律地位和性质,确定场外交易市场的功能定位,并且要规定场外交易市场的市场准入制度、交易制度、信息披露制度等基本制度,构建起场外交易市场的监管体系。OTC market is one important part of multi-level capital markets. Learning experiences from developed countries, promoting the development of OTC market and consummating the system of capital markets is imperative at present in China. In order to establish foundation of multi-level capital market, it needs the improvement of legislation in all levels of securities business. However, the status of OTC Market is ambiguous, and the construction of legal system is also lag. After analyzing the current legislation situation of OTC market in China, this paper puts forward that we should ascertain the legal status and character of the OTC market, as well as its functions. The law should prescribe basic systems of 0TC market, such as the admittance, exchange and disclosure systems. At the same time, designing the supervision system is also necessary.

关 键 词：场外交易市场 多层次资本市场 场外市场法律制度 监管体系 

分 类 号：F830.9[经济管理—金融学]