Research on Issues of Legal Supervision on Deal on Credit

摘要

Deal on credit, namely margin trading has developed rapidly in recent years, which serves as an opportunity and a challenge for the capital market in China. Although the State Council, China Securities Regulatory Commission, and the exchange made a series of institutional arrangements for margin trading, deal on credit is still a new thing for the capital market in China since there are still some problems in construction of legal system and responsibility system of supervision on deal on credit. Based on the supervision practice of deal on credit in China, this paper proposes that we should treat the view of "non-administrative penalty administrative supervision measures" and administrative responsibility cannot replace civil liability. It also puts forward the measures and suggestions to complete the supervision on deal on credit from the level of legal rules and administrative responsibility, so as to improve the effectiveness of supervision and maintain the sound and stable development of capital market in China.