發(fā)布時(shí)間：2018-02-16 23:45

  本文關(guān)鍵詞： 證券律師 證券發(fā)行 公共責(zé)任　出處：《華東政法大學(xué)》2011年碩士論文　論文類型：學(xué)位論文

【摘要】：證券律師在美國(guó)證券發(fā)行中享有著舉足輕重的權(quán)力,證券律師發(fā)表的法律意見對(duì)證券能否有效的發(fā)行起著決定性的作用。正是由于證券律師權(quán)力之大引發(fā)了人們對(duì)其義務(wù)的關(guān)注,即證券律師不僅應(yīng)為聘請(qǐng)他的客戶利益負(fù)責(zé),同時(shí)還應(yīng)對(duì)廣大的公共投資者承擔(dān)一定程度的責(zé)任。 本文第一章論述了美國(guó)證券立法出現(xiàn)的最初幾十年中,聯(lián)邦法院、證券交易委員會(huì)以及證券律師本身對(duì)證券律師是承擔(dān)公共職責(zé)還是僅承擔(dān)私的責(zé)任這一觀點(diǎn)所采取的保守態(tài)度。聯(lián)邦證券法律制度源于1929年開始的“大蕭條時(shí)代”,這些法律立法的核心目的是希望通過制度手段使發(fā)行證券的公司向公眾投資者完整、真實(shí)、及時(shí)地披露其自身及其發(fā)行的證券的財(cái)務(wù)會(huì)計(jì)、公司治理情況等關(guān)鍵信息。至六十年代末七十年代初,證券律師作為證券發(fā)行的核心角色的義務(wù)和責(zé)任在經(jīng)歷了近四十年的發(fā)展后,被逐漸擴(kuò)張的證券法律制度不斷的強(qiáng)化。 本文第二章闡述了美國(guó)證券法律制度在經(jīng)過四十余年的發(fā)展后,法律界開始改變證券律師應(yīng)承擔(dān)何種職責(zé)的傳統(tǒng)觀念。美國(guó)證券交易委員會(huì)及聯(lián)邦法院是這一時(shí)期主導(dǎo)這一變化的主體。從這個(gè)時(shí)期開始,證券交易委員會(huì)對(duì)證券律師執(zhí)業(yè)行為進(jìn)行了更為深入的干涉與滲透,那些沒有全面履行其應(yīng)盡職責(zé)的證券律師開始被證券交易委員會(huì)列入其監(jiān)督管制的范圍,聯(lián)邦法院的諸多判決也促成了這一觀念的積極轉(zhuǎn)變。證券律師則為了維護(hù)自身的權(quán)利與監(jiān)管機(jī)構(gòu)之間進(jìn)行著巧妙的斗爭(zhēng)。 本文第三章從多角度分析了《塞班斯-奧克斯利法案》對(duì)證券市場(chǎng)監(jiān)管制度的影響。該法案是對(duì)證券市場(chǎng)基本架構(gòu)進(jìn)行的最大的一次改革,更是美國(guó)市場(chǎng)經(jīng)濟(jì)環(huán)境下對(duì)公司治理理念及制度的巨大修整。面對(duì)該法案造成的巨大沖擊,證券律師紛紛行動(dòng)四處游說希望能法案具體實(shí)施時(shí)能減少對(duì)其的不利影響。最終又一次的你爭(zhēng)我奪之后,監(jiān)管機(jī)構(gòu)與證券律師之間新的平衡。 美國(guó)證券市場(chǎng)上百年的發(fā)展歷程中,無時(shí)無刻不經(jīng)歷著各種各樣的風(fēng)險(xiǎn),隨時(shí)都可能導(dǎo)致市場(chǎng)崩潰并從此一蹶不振,但這一切最終都成功的被這個(gè)充滿貪婪又不乏神奇的市場(chǎng)一一躲避并得以最終成為舉世矚目的偉大巨人。恰恰就是美國(guó)證券市場(chǎng)這種發(fā)展的歷史能夠有力的證明,在理性正義的制度保障之下,再艱巨的變革也能得到最為理想的結(jié)果。
[Abstract]:Securities lawyers play an important role in the issuance of securities in the United States. The legal opinions issued by securities lawyers play a decisive role in the effective issuance of securities. It is precisely because of the great power of securities lawyers that people pay attention to their obligations, that is, securities lawyers should not only be responsible for the interests of their clients. At the same time, the public investors should also assume a certain degree of responsibility. The first chapter of this paper discusses the first decades of the emergence of U. S. securities legislation, the Federal Court, The conservative attitude taken by the Securities and Exchange Commission and the securities lawyers themselves as to whether securities lawyers assume public or private responsibilities. The federal securities legal system dates back to the "Great Depression" that began in 1929. "the central purpose of these laws and legislation is to ensure the integrity of companies issuing securities to public investors through institutional means, True and timely disclosure of key information such as financial accounting and corporate governance of its own securities and its issued securities. Until the end of 60s and the beginning of 70s, After nearly forty years of development, the obligations and responsibilities of securities lawyers as the core role of securities issuance have been strengthened by the gradually expanding securities legal system. The second chapter expounds the development of American securities legal system after more than 40 years of development. The legal profession began to change the traditional notion of what kind of role a securities lawyer should have. The Securities and Exchange Commission and the Federal Court were the subjects that dominated the change during that period. The Securities and Exchange Commission has interfered more deeply with the practice of securities lawyers, and those securities lawyers who have not fully performed their due diligence have begun to be included in the scope of supervision and control by the Securities and Exchange Commission. A number of federal court decisions have also contributed to a positive shift in this view, with securities lawyers waging a clever struggle with regulators to defend their rights. The third chapter analyzes the influence of Sebens-Oxley Act on the securities market supervision system from many angles, which is the biggest reform of the basic structure of the securities market. It is also a huge overhaul of corporate governance concepts and systems in the American market economy environment. Facing the enormous impact of the Act, Securities lawyers have lobbied around to reduce the adverse impact of the bill when it is implemented. A new balance between regulators and securities lawyers has finally emerged after another battle. Over the course of hundreds of years of development in the United States, the stock market has experienced a variety of risks all the time, which can cause the market to collapse and never recover at any time. But in the end, all of this was successfully evaded by this greedy and magical market and eventually became a great giant of worldwide interest. This is a powerful proof of the history of this kind of development in the U.S. stock market. Under the system guarantee of rational justice, the most ideal result can be obtained through arduous changes.
【學(xué)位授予單位】：華東政法大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2011
【分類號(hào)】：D971.2;DD912.28;DD916.5

【參考文獻(xiàn)】

相關(guān)期刊論文 前1條

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本文編號(hào)：1516713