On the Drawbacks and Improvement of Legal System of Supervision on Securities Fraud in Cyberspace in China

Jin-long ZHAO, Shi-jin WANG

Abstract


The law of internet securities fraud mainly concerns internet safety, securities offering, information disclosure and securities trading on internet, the imperfections of which mainly include the low level for legislation, short of fundamental legislation, imperfect special legislation, conflicts among traditional legislation, and short of rules of international coordination. The discreet measures for perfection should include promoting legislation level, establishing relevant provisions for cyberspace conduct and special law such as Electronic Securities Trading Law, and amending Securities Law to regulate the prominent securities fraud in cyberspace. At present, it is urgent for securities regulator to establish and perfect the relevant supervision rules.
Key words: Cyberspace; Securities Exchange; Securities Fraud; Legal Supervision

Résumé: La loi de la fraude en valeurs mobilières sur Internet concerne principalement la sécurité Internet, l’offres des titres, la divulgation de l'information et la transaction des titres sur internet, dont les imperfections incluent principalement un faible niveau de législation, une absence de législation fondamentale, une législation spéciale imparfaite, les conflits entre la législation traditionnelle, et une absence de règles de coordination internationale. Les mesures discrètes de la perfection devrait inclure la promotion du niveau de la législation, l’établissant des dispositions pertinentes pour la gestion de cyberespace et des lois spéciales telles que la Loi sur le commerce électronique des titres, et la modification de la Loi des titres pour réglementer la fraude en valeurs mobilières dans le cyberespace. À l'heure actuelle, il est urgent pour les régulateurs d'établir et de perfectionner les règles de surveillance appropriées.
Mots-Clés: cyberspace; taxes de transaction; fraudes en valeurs mobilières; surveillane légale

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DOI: http://dx.doi.org/10.3968/j.css.1923669720100601.006

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