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对经营困难,违规严重的问题券商,必须及时实施有效的处置,才能保证证券业的健康稳定发展。当前我国仍以监管层行政性很强的被动救助为主要处置手段,这不符合市场优胜劣汰的基本规则。合理的处置方式应是系统地建立市场化券商破产机制,并设计相应的配套措施和执行程序,使这一机制得以有效运作。
For business operators who have difficulties in operating or violating regulations, they must promptly implement effective dispositions to ensure the healthy and stable development of the securities industry. At present, our country still takes the supervisory and administrative strong passive assistance as the main means of disposal, which is not in conformity with the basic rules of market survival and the fittest. A reasonable method of disposal should be to systematically establish a market-based brokerage bankruptcy mechanism, and design the appropriate supporting measures and implementation procedures to enable this mechanism to operate effectively.