Public Enforcement of Securities Laws: A Case of Convergence?

Abstract

This research examines the process of adoption and adaption in which foreign norms and local conditions have interacted to shape the evolutionary trajectory of the China Securities Regulatory Commission’s (CSRC) enforcement programme. It argues that two salient features of Chinese securities regulation – the increasing emphasis on enforcement and the increasing reliance on trial-like procedures in enforcement – are likely to have been inspired by exogenous sources, more specifically, the United States (US)) approach to securities regulation, and also caused by endogenous conditionalities.

Keywords: Securities Enforcement, China, Comparative