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长期以来,资本市场违法违规行为和处罚结果之间的不适应性,违法成本和违法收益之间的不匹配性,一直为投资者所诟病。从当前资本市场形势看,加大资本市场的法律供给、针对性地提升监管部门的执法权限,已成为当务之急。2016年以来,针对证券市场长期以来存在的各种乱象,证券监管部门进行了强有力的监管约束。其中,包括对于信息披露违规、操纵市场、内幕交易等市场深恶痛绝的行为,也包括高送转、次新股炒作等一些市场乱象。总体来看,强监管起到了
For a long time, the incompatibility between illegal and penal behaviors in capital markets and the mismatch between illegal costs and illegal gains have been criticized by investors. Judging from the current situation in the capital market, it is imperative to increase the legal supply of the capital market and raise the regulatory authority’s enforcement power in a targeted manner. Since 2016, the securities regulatory authorities have imposed strong regulatory restrictions on various chaos that have long existed in the securities market. Including information disclosure violations, manipulation of the market, insider trading and other market abhorrence of behavior, but also including high delivery turn, sub-IPO speculation and some market chaos. Overall, strong regulation has played