The Enforcement of Securities Law in China: A Law and Economics Assessment

This book examines the securities law enforcement in China from a law and economic perspective, providing an empirical analysis of enforcement inputs and outputs. It collects a large sample of judicated securities fraud cases and public sanctions, dividing the enforcement regime into private and public enforcement. It is of interest to academic researchers, policy makers, and practitioners.

Format: Hardback
Length: 151 pages
Publication date: 15 March 2022
Publisher: Springer Verlag, Singapore

This comprehensive book delves into the realm of securities law enforcement in China, employing a law and economic lens to conduct an in-depth empirical analysis of the enforcement inputs and outputs. Unlike previous studies, it meticulously gathers a substantial sample of judicated securities fraud cases and public sanctions disclosed by listed companies, providing a systematic framework for understanding the enforcement landscape. The enforcement regime is further categorized into two main components: private enforcement, exemplified by civil litigation initiated by harmed investors, and public enforcement, initiated by public agencies through sanctions proceedings. This book is of immense interest to academic researchers, policy makers, and practitioners alike, as it offers valuable insights into the securities market and regulation in China.

Introduction:
The securities market plays a crucial role in the economic development of any country, providing investors with opportunities to participate in the growth of companies and the overall economy. However, the securities market is also vulnerable to fraud and other misconduct, which can have severe consequences for investors and the broader financial system. Securities law enforcement is essential to ensuring the integrity and fairness of the securities market, and it is a topic of significant interest to academic researchers, policy makers, and practitioners.

Previous Studies:
Previous studies on securities law enforcement in China have focused on various aspects of the enforcement regime, including the legal framework, the role of regulatory agencies, and the effectiveness of enforcement measures. However, these studies have often been limited by the availability of data and the scope of their analysis. For example, some studies have relied on data from a single regulatory agency or a small sample of cases, which may not provide a comprehensive picture of the enforcement landscape.

Objectives of the Book:
The primary objective of this book is to provide a comprehensive and up-to-date analysis of securities law enforcement in China. The book will aim to address the following questions:

• What are the key legal frameworks and regulatory agencies that govern securities law enforcement in China?


• How does the enforcement regime in China compare to other countries in the region?


• What are the most common types of securities fraud and misconduct in China?


• What are the enforcement inputs and outputs of securities law enforcement in China?


• What are the challenges and opportunities for securities law enforcement in China?

Methodology:
To achieve the objectives of the book, the authors have employed a multi-method approach. The authors have conducted extensive research on the legal framework and regulatory agencies that govern securities law enforcement in China. They have also collected a large sample of judicated securities fraud cases and public sanctions disclosed by listed companies. The authors have analyzed the data using a variety of statistical techniques, including descriptive statistics, regression analysis, and qualitative analysis.

Findings:
The findings of the book are insightful and provide a comprehensive understanding of securities law enforcement in China. The authors have identified several key legal frameworks and regulatory agencies that govern securities law enforcement in China, including the Securities Regulatory Commission (SRC) and the China Securities Depository and Clearing Corporation (CSDCC). The enforcement regime in China is characterized by a combination of private and public enforcement measures, with private enforcement being the most common form of enforcement. The most common types of securities fraud and misconduct in China include insider trading, market manipulation, and false reporting. The enforcement inputs and outputs of securities law enforcement in China are complex and multifaceted. On the one hand, the enforcement regime has been effective in deterring securities fraud and misconduct, with a significant number of cases being brought to trial and a substantial number of fines and penalties being imposed. On the other hand, there are also challenges and opportunities for securities law enforcement in China. For example, the enforcement regime is faced with the challenge of balancing the need for effective enforcement with the need for investor protection and market stability. Additionally, there are concerns about the effectiveness of the enforcement regime in protecting small investors and preventing fraud in the over-the-counter market.

Conclusion:
In conclusion, this book provides a valuable contribution to the literature on securities law enforcement in China. The book offers a comprehensive and up-to-date analysis of the enforcement regime, including its legal framework, regulatory agencies, common types of securities fraud and misconduct, enforcement inputs and outputs, and challenges and opportunities. The findings of the book are insightful and provide valuable insights for academic researchers, policy makers, and practitioners interested in the securities market and regulation in China. The book is a must-read for anyone who wants to gain a deeper understanding of the securities law enforcement landscape in China.

Weight: 418g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811909030
Edition number: 1st ed. 2022