大股东套现、“大小非”解禁是长期以来困扰我国证券市场的难题,监管者从很多方面试图缓解这一问题,但效果均不理想。实际上,美国等一些境外成熟市场国家或地区在其证券市场发展的历程中也面临着类似的问题。学习研究他们在应对这些问题时的经验和教训,或许可以帮助我们寻找到一条能够解决问题并且适合我国证券市场的途径。 Major shareholders cash out, “non-size” lifting of the ban has long plagued the securities market in our country. Regulators tried to alleviate this problem in many aspects, but the results were unsatisfactory. In fact, some overseas mature market countries or regions such as the United States also face similar problems in the development of their securities markets. Studying and studying their experiences and lessons learned in dealing with these issues may help us to find a way to solve the problem and to suit our stock market.