摘要
以2008年金融危机后英国金融监管者的应对措施为研究对象,为我国后金融危机时代的金融监管模式提供借鉴。本文对原则导向型监管模式与规则导向型监管模式进行比较,随后以英国为例,分析其在金融危机后对监管模式的反思以及因此而对法律规范本身进行的增量性微调,指出我国监管者在应对新的监管需要时,对规则本身的改变也许并不是那么重要,对监管理念的反思也许是在实践中更有意义也更节省成本的选择。经过修正后的原则导向型监管模式也许可以为我国监管者应对金融市场复杂性与创新性提供借鉴。最后分析英国在危机救助过程中的不透明性导致的市场不可预测性,指出我国应借鉴其经验,将危机救助机制公开化、确定化,以保障法律的可预测性,使市场主体更好地预见其行为后果。
This article analyzes the measures UK financial regulators applied as responses to the 2008 financial crisis, in order to provide reference for the post-crisis regulation for our country. The article compares the pros and cons of rule-based regulations and principal-based regulations, then takes United Kingdom as an example, analyzing the introspection and rectifi- cation of the principal-based regulations, and the prudent incremental changes of the legal rules, proposed that the regulators in our country should focus more on the reconsideration upon the principles of the regulation, rather than the change of the legal rules themselves, which may be a more meaningful and cost effective choice in practice. The revised principal-based regula-tions may provide reference for our country to answer the questions caused by the complexity and innovations of the financial market. Finally, the article points out the non-transparency in the process of government bailout leads to the unpredictability of the market, and proposes that our government should draw lessons from their experience, to make the rescue process more open and definite, to ensure the predictability of law. Therefore the market participants will be able to expect the consequences of their actions.
出处
《浙江工商大学学报》
CSSCI
2015年第4期55-64,共10页
Journal of Zhejiang Gongshang University
基金
杭州市社会科学规划课题"债权激励纳入我国公司管理层薪酬结构改革研究"(B14FX01)
