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金融危机的产生很大程度上是金融监管放松的结果。这次由美国次贷危机引发的全球金融危机,促使各国更加认真地审视包括期货监管体系在内的金融监管体系。美中两国期货市场都实行三级监管和分业监管模式。但监管机构权限不同,行政监管和行业自律监管的侧重点也不同。中国要借鉴其先进经验,汲取教训,充分发挥自律监管的作用,进一步完善现行三级监管体制;既要注重期货监管与期货产品创新之间的平衡,同时又要注重监管效率。中国的期货监管机构也要加强与其他监管机构之间的合作。
The financial crisis is largely the result of the relaxation of financial regulation. The global financial crisis triggered by the U.S. subprime mortgage crisis prompted all countries to take a more serious look at the financial regulatory system including the futures regulatory system. The United States and China futures markets have implemented three levels of supervision and separation supervision mode. However, the regulatory authorities have different authorities, and the emphasis of administrative regulation and self-regulation of the industry is also different. China should draw lessons from its advanced experience, learn lessons and give full play to its role of self-regulatory supervision so as to further improve the existing tertiary regulatory system. It should not only pay attention to the balance between futures supervision and futures product innovation, but also pay attention to regulatory efficiency. China’s futures regulatory agencies should also strengthen their cooperation with other regulatory agencies.