导　　师： 李伯侨

学科专业： 030107

授予学位： 硕士

作　　者： ;

机构地区： 暨南大学

摘　　要： 金融衍生工具是泛指一切以一般金融产品为基础并由此衍生出来的投资工具。其法律风险指因为法规不明确或交易不受法律保障,从而使合约无法履行而给交易商带来损失。金融创新增大了金融体系的风险,是衍生工具法律风险特征。金融危机显示西方传统的法律与监管方式缺乏预警功能、防范作用及善后处理的调整能力。 金融衍生工具法律监管制度包括监管主体、监管模式和监管立法。金融监管可归纳为侧重于外部监管的美国模式,侧重于单一监管的日本模式和侧重于自我监管的香港模式。一国或地区的监管框架主要取决于该国或该地区金融衍生品市场的发育程度,以及政府对经济运行的调控模式,但随着衍生品市场国际化、市场化的进程,监管模式的趋同化越来越明显,多层次的监管,高度重视交易所和行业协会的自律管理,以此作为市场法律监管的基础已形成共识。 我国要发展完备的金融衍生品市场,须建立完善的监管体制,包括监管主体、监管模式和监管立法。应明确监管的主体的相互的权力分配和注意对监管主体的监管,以防止监管主体不履行义务或滥用权力对市场的不良影响。统一监管模式是建立和完善我国金融衍生品市场监管法律制度的优化方式。法律应明确规定金融衍生品交易过程中所产生的法律责任。 Financial derivatives refer to all general and financial products based on this instrument derived from the investment.The legal risks of derivatives are when laws and regulations are not clear or transactions not subject to legal protection which will cause the contract unable to fulfill that brings the losses of traders.Financial innovations have increased the risks of the financial trading that is characteristic of the legal risks of derivatives.During the financial tsunami,developed countries have experienced that the traditional means of legal monitoring systems are not able to perform early warning and prevention of functional role,not capable of dealing with the aftermath of the crisis and also without enough experience and ability to adjust. Legal regulatory framework of financial derivatives includes the supervision of the main body,the mode of regulation and regulatory legislation.Financial regulations can be summarized as the American model focusing on the external monitoring,the Japanese model focusing on a single regulatory and emphasis on self-regulation by the Hong Kong model.The regulatory framework of countries or regions depends mainly on the maturity of their financial derivatives markets,as well as government regulation of economic operation mode,but with the international derivatives markets,the process of the market, the convergence of regulatory approach of more and more obvious that many levels of regulation,attaches great importance to exchanges and trade associations for self-regulation as a legal regulation of the market has formed the basis of consensus. In order to consummate the development of our country's financial derivatives market,a sound regulatory regime by means of the supervision of the main body,the mode of regulation and the regulatory legislation needs to be set up.The allocating of power of the main body within the mutual regulation of the division should be made clear.Full attention should also be made to the subject of regulatory supervision hence to prevent the negative impact on the market by the regulation of its non-performance or abuse of power. Unified regulatory model is recommended to improve the supervision of China's financial derivatives market so as to optimize the way the legal system.Moreover,the law should clearly define financial derivatives resulting from the process of legal responsibility.

关 键 词： 金融衍生工具 法律风险 法律监管制度 监管主体 监管模式 监管立法

分 类 号： [D922.28]

领　　域： [政治法律] [政治法律]