论文部分内容阅读
网上证券交易冲击了传统证券市场的交易制度和监管模式 ,同时由于网络对有形疆域的消弭 ,网上证券交易也日益体现出其跨国性的特征。本文以网上跨国证券发售的管辖权为视角 ,比较了目前美国、英国、荷兰、比利时、德国等国的相关立法规定 ,分析了各国消极管辖和积极管辖并重的现行立法体例 ,认为平衡投资者和融资者之间的利益需求才能构建一个合理的网上跨国证券交易管辖权 ,并在此基础上提出且阐明了网络联系理论。
On the other hand, online securities trading has affected the trading system and regulatory model of the traditional securities market. Meanwhile, due to the elimination of the physical territory by the Internet, the online securities trading has also increasingly manifested its transnational characteristics. Based on the jurisprudence of online multinational securities offering, this article compares the current legislative provisions of the United States, Britain, the Netherlands, Belgium, Germany and other countries, and analyzes the current legislation of both the negative and positive jurisdictions of all countries, In order to construct a reasonable jurisdiction of transnational securities trading on the basis of the interest demand among the financiers, on this basis, the network contact theory is proposed and clarified.