后危机时代信用评级监管法律制度创新研究

摘要

The immorality and loss of control of credit rating agencies played a role of encouraging and catalyzing the outbreak and spreading of financial crisis.After analyzing the right and wrong, it has become a trend to innovate or construct the supervisory system for credit rating from the angle of market access, interest conflict and information disclosure, etc.The innovation of legal system would help prevent financial crisis, but if we can't objectively comment the values such as equality of market competition, equity and justice under the background of dispersive sovereignty and differential market pattern, we wil plunged into the misunderstanding of universality of legal values, and the weak states wil be sacri-ficed due to the crisis-export of the powerful countries.Therefore, the innovation and reform of the legal system must be based on state financial safety and the res-toration of credit rating agency's private market entity status.%信用评级机构的无良与失控对金融危机的发生与扩散起到了催化剂与火上浇油的作用。明辨是非之后，从市场准入、利益冲突防范、信息披露强化等角度来构建或升级信用评级监管法律制度成为后危机时代的一种潮流。虽然法律制度的革新益于金融风险的防护，但是若不能从世界在主权因素下分而治之的状态及差序的市场格局来客观地评估市场博弈平等、公平与正义等华丽的价值，那么不仅会陷入一种法律价值普适性的误区，而且也易于使弱国成为强国输出危机成本的牺牲品。后危机时代，基于国家金融安全的立场及还原评级机构市场私主体的本位是整个制度创新与改良的基础。