证监会地方执法的绩效实证与机制改革  

The Performance and Mechanism Reform of the CSRC Regional Office’s Enforcement

作　　者：吕成龙[1] LU Cheng-long(Shenzhen University Law School,Shenzhen 518060)

机构地区：[1]深圳大学法学院,广东深圳518060

出　　处：《行政法学研究》2021年第4期82-92,共11页ADMINISTRATIVE LAW REVIEW

基　　金：2017年度教育部人文社会科学研究青年基金项目“中国证监会内幕交易监管行为研究:1994-2017”(项目编号:17YJC820035);深圳大学2020年青年教师科研启动项目“证券市场规制理论研究”。

摘　　要：在2010年10月至2020年2月期间内,证监会派出机构累计对728件证券违法案件作出处罚。但是,36个地方监管局不仅彼此执法数量与案件类型差异显著,而且其对事实相近的违法行为性质认定也时有差别,更呈现出对同一类型违法行为处罚裁量幅度的各自偏好。究其原因,地方政府在我国证券监管体系建立之初便参与其中,由此影响了派出机构的地理分布和外部执法环境,再加之各地缺乏足够的经验积累和统一处罚裁量规范,风格迥异的地方执法在所难免。比较而言,尽管域外主要国家证券监管体系亦有局限,但其较为合理的机构分布与组织机制设计值得关注。面向未来,我国应重新设置证监会地方执法的机构体系,在优化执法资源配置的基础上,制定和完善统一的违法行为认定与处罚裁量指引。Between October 2010 and February 2020,the regional offices of the CSRC imposed penalties on a total of 728 securities violations.However,the 36 regional offices not only have significant differences in the number of law enforcement and the types of cases,but also have different identifications of the nature of illegal acts with similar facts.Further,they show their respective preferences for the discretionary range of penalties for the same type of violations.The reason is that local governments have been involved in the initial establishment of China’s securities supervision system,which has affected the geographical distribution of regional offices and the external law enforcement environment.Coupled with the lack of sufficient experience and unified penalty discretion norms,it is inevitable to lead to different local law enforcement styles.In comparison,despite the securities regulatory systems of major foreign countries have limitations,their relatively reasonable institution setting and organizational mechanism design are worthy of more attention.China should re-establish the CSRC’s local law enforcement agency system,as well as formulate and improve unified guidelines for determining and punishing securities violations on the basis of optimizing the allocation of law enforcement resources.

关 键 词：证监会 证券违法 派出机构 稽查执法 

分 类 号：D922.11[政治法律—宪法学与行政法学] D922.287[政治法律—法学]