Financial regulation in the United States

下面为大家整理一篇优秀的essay代写范文- Financial regulation in the United States，供大家参考学习，这篇论文讨论了美国的金融监管制度。英美法系国家根据判例法法律的基础，并且运用判例解决金融监管过程中的法律问题，进而可以确保金融市场的发展能够随着时代的发展而变化。美国完善的金融监管规则为金融的发展提供了稳定的法律环境，促进了美国金融业的发展。

From different angles, financial regulation has different meanings. The narrow sense of financial regulation is worth to ensure the stability of financial markets, prevent and control financial risks, and to implement the activities of these rules. Financial regulation in the broad sense is much more extensive. It has three meanings: first, the rules of financial regulation, which are similar to those in the narrow sense of financial regulation; second, it has financial subjects, such as financial institutions, financial products and financial regulatory departments. Finally, the supervision mechanism of finance, that is, the supervision of the subject and object of finance to ensure the effective implementation of the regulation. The narrow sense of financial regulation is isolated and static, while the broad sense of financial regulation contains dynamics and changes.

The United States has a very sound legal system and belongs to the Anglo-American legal system. Based on the legal basis of case law, the countries in the common law system use cases to solve legal problems in the process of financial supervision, so as to ensure that the development of financial market can change with the development of The Times. Perfect financial regulation in the United States provides a stable legal environment for the development of finance and promotes the development of American finance. But sound financial regulation does not mean that America's system is perfect. The subprime crisis of 2008 fully exposed the problems in American financial regulation. But the strength of American financial regulation lies in its adaptability and responsiveness. Thus, after the subprime crisis in 2008, the United States emerged from the shadow of the crisis relatively quickly, and the financial market began to prosper again.

The restriction and balance of power is deeply rooted in the United States. At present, the American authorities have adopted the dual-line and multi-bull supervision model for financial market regulation. That is, the federal government and the state government regulate the financial market in two lines, and are supervised by several specific regulations at the same time. "Long" regulators include the federal reserve, the monetary authority, the securities and exchange commission and more. The model of dual line supervision and multi-line supervision is different from each other in terms of the regulation. Before the subprime crisis in 2008, the financial supervision model of American two-line long made great achievements, but the loophole of this supervision model was clearly revealed in the subprime crisis. Once systemic risk emerges in the financial market, no institution can effectively deal with the risk due to the lack of unified authority to supervise, resulting in the deepening of the subprime mortgage crisis. Therefore, the model of dual - line multi - bull has many problems, such as low efficiency and fuzzy regulation.

Financial supervision mechanism is a dynamic supervision activity. The American financial regulatory mechanism has the characteristics of benign dynamic and can reflect on the crisis. Subprime financial crisis in 2008, for example, the high pay of senior financial officials exposed the shortcomings of us financial regulation mechanism, before the crisis, the world's three major rating agencies of the United States subprime problem for early warning, but because of financial regulation is very complex, and due to the complexity of interest relations, led to the emergence of the crisis. Of course, due to the good self-reflection and recovery ability of the financial regulatory mechanism in the United States, after a profound review of the problem, the United States came out of the subprime crisis relatively quickly.

Throughout the history of financial regulatory reform in the United States, there has always been an imprint of history. In the history of the United States, there was an economic crisis every ten years or so, and the financial regulation of the United States was always able to adjust appropriately in the face of the crisis, thus making the financial regulation of the United States have a distinct era mark. In the subprime crisis, in 2009, the us government issued the plan of financial regulation reform, which was the biggest financial regulation reform since the 1930s. The reform of financial regulation has the potential to cause moral hazard. This is because the reform plan will put more emphasis on the regulatory role of the government. If the government increases the implicit guarantee to the large financial institutions, it may encourage them to choose the investment areas with more risk orientation, which will further lead to the increase of systemic risk. Moreover, the reform of financial regulation will give the fed broader powers. Because this reform is so different from the "liberal" economic ideology that the United States has always pursued, there is opposition at home. The financial regulatory reform in 2009, is based on the subprime crisis has had a huge impact, on the basis of this is paper tone of a blow to the market, further evidence that the financial regulation can not rely solely on the supervision of the market itself, and shall order the appropriate dependent on government regulation, but does not mean that the role of the government is omnipotent, but advocates of market regulation and government regulation. The financial regulation plan is the result of all parties' game, and the plan is also subject to great resistance, but the U.S. senate finally passed the plan in 2010.

China's current financial supervision system was formed in 2003. The three committees under the jurisdiction of the central bank exercise administrative supervision over the banking, insurance and securities sectors. With the gradual opening of China's financial market, the American financial regulatory system has a very important reference significance for China, and the process of learning from it is also a process of in-depth analysis of the American financial regulatory system.

The us subprime mortgage crisis has fully exposed the loopholes in the us regulatory rules and mechanisms, and the important reason for this failure is the lack of effective coordination mechanism in the us regulatory system. In order to overcome the regulatory loopholes caused by the dual-line multiple supervision model, the United States plans to set up a unified financial system to coordinate regulators, so as to make up for the deficiencies of the dual-line multiple supervision mechanism. The experience and lessons of the us subprime mortgage crisis also inspired me. China should also improve the regulatory coordination mechanism as soon as possible, and the three associations should have a coordinated link and function to give full play to the maximization of regulatory utility. It is necessary for China to establish a joint regulatory meeting mechanism among the three associations, and fully realize the sharing of information, so as to ensure that the regulators have good information communication ability and coordination ability, which can not only reduce the cost of supervision, but also improve the efficiency of supervision. At present, China has established a preliminary coordination and communication mechanism, but there are still big problems in terms of communication efficiency and information sharing. How to avoid vague regulatory responsibilities and loopholes in regulation should not only be learned from the United States, but also be based on its national conditions.

With the continuous enhancement of China's comprehensive national strength and the continuous improvement of people's consumption level and consumption capacity, people's demand for financial products is more and more intense, so as to realize the need of maintaining and increasing the value of investment and wealth. The increasing financial consumption demand in China is an important force to promote China's economic development. If financial regulation neglects to protect the public interest, it will seriously frustrate the public's enthusiasm to consume. With the improvement of the consumption capacity of Chinese residents, the speed and quantity of credit card issuance in China is increasing rapidly. How to ensure credit security is also an important issue. There are great differences between China and the United States in consumption traditions and habits, but we can still draw on the experience of American financial supervision in this respect. The United States has set up financial institutions to protect consumers in response to the habit of domestic consumers being too advanced, and has improved laws to protect consumers so as to guarantee the development of the American economy on the premise of ensuring people's consumption ability. In order to perfect the credit market, China has established a national citizen information credit system, and citizens and relevant institutions can inquire citizens' credit information, which is an important measure taken by China to prevent financial risks.

The United States has always attached great importance to the cultivation of financial talents. All major universities in the United States have set up majors in finance, and have specially recruited experienced talents to enter the field of financial supervision, so as to strengthen the supervision of financial market from the talent team. At present, China's supervision mode is developing from the extensive supervision in the past to the target supervision direction, and the means and methods of supervision are constantly improving. The following are the defense lines to transform the financial supervision model: the transformation from post-supervision to pre-risk supervision and prevention, from static supervision means to dynamic supervision, from comprehensive and extensive supervision to targeted and focused supervision, so as to effectively play the role of the market. In the new situation, it is necessary to learn from the advanced side of American financial supervision, vigorously strengthen the training of supervision personnel, improve the comprehensive quality of supervision personnel, update the supervision concept of supervision personnel, and constantly absorb talents with rich financial practice experience to enrich the supervision team.

With the deepening of global economic integration, financial systemic risks are no longer confined within one country. Therefore, it is necessary to learn from the experience of us financial supervision, strengthen international financial supervision coordination, and carry out a series of innovation of supervision methods. We should build a multilateral coordination mechanism for financial supervision and regulation, strengthen bilateral and multilateral cooperation, encourage financial crimes, and address systemic financial risks. It is to comply with the international financial development defense line and introduce advanced regulatory technology from the United States and other western countries. Global economic integration has greatly shortened the time and cycle of financial transactions worldwide, expanded the depth and breadth of the financial business field, and also presented new challenges for intercontinental financial regulation. The United States relies on its economic strength, and financial regulation is not just domestic, but global. Strengthening international regulatory cooperation can enhance communication, reduce misunderstandings, improve regulatory efficiency and reduce systemic risks in global finance.

To sum up, us financial regulation has a long history. Its history of financial regulation is a history of constantly responding to challenges and constantly adjusting the means, methods and modes of regulation. As financial regulation in the United States has an important influence on the development of global economy, China should learn from the United States and improve its own regulatory system and rules to improve regulatory efficiency and promote the improvement of its own financial regulation level.

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