The International Legal Regulatory System of Financial Derivatives
|School||Beijing Jiaotong University|
|Keywords||Financial derivative products Legal and regulatory system International regulatory legal system|
Financial derivative products has developed rapidly in recent decades , the hedged risk and profitability due to its variety and scale of the ever-changing and expanding . At the same time , the financial derivative products with high leverage , virtual future characteristics , coupled with the financial derivatives market information asymmetry , systemic and infectious factors , making the financial derivative products have a high risk . Even near several area within the worldwide financial crisis , all related to the risks of financial derivatives . Countries are exploring financial derivative products effective regulatory mechanism . \The international level , the Basel Committee , the International Swaps and Derivatives Trading Association , the International Securities Regulatory Organisation Committee and other international organizations also play a positive role , but because of the organization within the file does not have coercive power , excessive reliance on the organization and self - discipline , as well as often involves only a certain type of financial derivative products , and other factors , its supervision and regulatory effects remain to be strengthened . In the context of financial liberalization and economic globalization , more international regulatory cooperation is necessary to strengthen the financial derivative products , the focus from the more effective information disclosure and information to establish a unified global regulatory organizations , to strengthen regulatory cooperation between the countries , sharing mechanism and other efforts . For China, the development of the financial market is not yet mature , but should focus on institution building , strengthen the supervision of financial derivative products , and promote the healthy development of the financial derivatives market .