2006年1月1日,历经两年零三个月的修改,新《证券法》终于在各种意见中尘埃落定,进入了实施阶段。正因为如此,关于新《证券法》与后股改时代的检讨之声也愈演愈烈,其中既有切中肯綮的谏言,也不乏不辨真伪的噪音,然而建设法制与净化市场不同的路径选择和相同的操作困境,必须在实 January 1, 2006, after two years and three months of revision, the new “Securities Law” finally settled in various opinions, entered the implementation stage. Because of this, the review on the new “Securities Law” and the post-reform era has also become increasingly fierce. There are not only admonitions to be true, but also noises that can not be discerned from authenticity. However, there are different approaches to building a legal system and purifying the market. The same operational difficulties must be real