论文部分内容阅读
我国《证券法》第26条规定了证监会对证券发行核准决定的撤销权,但在上市后发现发行人不符合法定条件和程序予以发行的,撤销权不得行使之。如此立法规则,使得上市后对发行人的违法发行行为出现了监管真空,同时我国现行立法模式下的退市制度、民事赔偿制度也不能弥补此项空白。因此,有必要赋予证监会对上市后证券发行核准决定一定限度内的撤销权,以完善我国证券发行的监管制度。
Article 26 of the Securities Law of China stipulates the right of withdrawal of the CSRC’s decision on the approval of securities issuance. However, if the issuer is found not to be in conformity with the statutory conditions and procedures after its listing, the right of revocation may not be exercised. Such a rule of law makes a regulatory vacuum on the issuer’s illegal issuance after the listing, and the delisting system and the civil compensation system under the current legislative model in our country can not make up for this gap. Therefore, it is necessary to give the CSRC the right of revocation within a certain limit of the approval of the issuance of securities after listing to improve the regulatory system of securities issuance in China.