英国金融监管:缘起、法律变革及其启示
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摘要
金融监管体系的法律变革往往是金融监管的风向标,英国在2012年、2013年、2016年曾先后对其金融监管体系做出了三次根本性的变革,考察其法律变革进程会发现:一是将"促进部门多元化和竞争"与"防范风险"作为金融监管的两大监管目标;二是以强化中央银行的监管职能为核心,不断加强宏观与微观双重监管;三是注重金融监管部门之间的协调与合作,创新协作监管机制;四是始终将金融消费者、投资者的权益保护置于重要地位。这些举措对推进我国金融监管体系创新改革具有借鉴意义。
The legal changes of financial supervision system are always the signal of financial supervision. The UK has made three fundamental changes to its financial supervision system in 2012,2013 and 2016. By studying its process of legal changes,we can find the two targets "promoting the diversification and competition of the department"and "preventing risks"are both weighed in financial supervision; strengthening the supervision function of the central bank both on macro supervision and micro supervision; we should always pay attention to the coordination and cooperation between the regulatory departments; it is important to protect the rights and interests of financial consumers and investors. The above measures are of great reference significance to promote innovation reform of China's financial supervision system.
The legal changes of financial supervision system are always the signal of financial supervision. The UK has made three fundamental changes to its financial supervision system in 2012,2013 and 2016. By studying its process of legal changes,we can find the two targets "promoting the diversification and competition of the department"and "preventing risks"are both weighed in financial supervision; strengthening the supervision function of the central bank both on macro supervision and micro supervision; we should always pay attention to the coordination and cooperation between the regulatory departments; it is important to protect the rights and interests of financial consumers and investors. The above measures are of great reference significance to promote innovation reform of China's financial supervision system.
引文
[1]包明友.英国金融监管体制改革[J].中国金融,2016(5):77-79.
[2]刘洪.反思美国“市场原教旨主义”[N].中国证券报,2009-11-07(A09).
[3]中国人民银行济南分行调查统计处课题组.国际金融监管体制改革比较研究及对我国的启示[J].金融发展评论,2012(9):88-119.
[4]黄志强.英国金融监管改革新架构及其启示[J].国际金融研究,2012(5):19-25.
[5]邹阳.论后金融危机时代英国金融监管改革及对中国的启示[D].上海:华东政法大学,2014:24.
[6]The Wheatley Review of LIBOR:final report[EB/OL].https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/191762/wheatley_review_libor_finalreport_280912.pdf.
[7]Impact assessment:ring-fencing and depositor preference[EB/OL].https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/271115/Final_IA_-_ring-fencing_and_depositor_preference.pdf.
[8]王淯,陈团廷.英国银行业改革方向:防范跨行业风险传递[J].金融发展评论,2011(12):31-32.
[9]Governor of the Bank of England,Mark Carney's speech[EB/OL].https://www.gov.uk/government/news/bank-of-england-and-financial-services-billgiven-royal-assent.la.
[10]张景智.“监管沙盒”的国际模式和中国内地的发展路径[J].金融监管研究,2017(5):22-35.
[11]Bank of England.Financial Stability Report[EB/OL].https://www.bankofengland.co.uk/publications/Documents/fsr/2017/fsrnov17.pdf.
[12]习近平.决胜全面建成小康社会夺取新时代中国特色社会主义伟大胜利[N].人民日报,2017-10-28(01).
[13]胡滨,杨楷.监管沙盒的应用与启示[J].中国金融,2017(1):68-69.
[14]童中文,范从来,朱辰,等.金融审慎监管与货币政策的协同效应——考虑金融系统性风险防范[J].金融研究,2017(3):16-32.
[15]吴晓求.中国金融监管改革:逻辑与选择[J].财贸经济,2017(7):33-48.
[16]史炜,瞿亢,侯振博.英国金融统一监管的经验以及对中国金融监管体制改革的建议[J].国际金融,2016(7):3-9.
[17]Sinclair,Peter,Allen,William A.Monetary Policy Normals:Future and Past[J].National Institute Economic Review,2017,241:5-11.
[18]Bank of England and Financial Services Act 2016[EB/OL].http://www.commonlii.org/uk/legis/num_act/2016/ukpga_201614_en_1.pdf.
[19]Eddy Wymeersch,Klaus J.Hopt,and Guido Ferrarini.Financial Regulation and Supervision:A post-crisis analysis[M].Oxford University Press,2015.
[20]Ferran,Eilis.The UK as a Third Country Actor in EU Financial Services Regulation[J].Journal of Financial Regulation,2017,3:40-65.
[21]Osborne,Matthew,Fuertes,et al.In good times and in bad:Bank capital ratios and lending rates[J].International Review of Financial Analysis,2017,51:102-112.
(1)根据世界银行的数据,英国政府为金融产业提供的救助资金总计多达1.2亿英镑。Ed Farquharson and Javier Encinas,The U.K.Treasury Infrastructure Finance Unit:Supporting PPP Financing During the Global Liquidity Crisis(May 2010).
(2)Financial Services Act 2012,s3B(1).
(3)Financial Services Act 2012,A1(1).
(4)Financial Services(Banking Reform)Act 2013,Part 1.
(5)同(4).
[2]刘洪.反思美国“市场原教旨主义”[N].中国证券报,2009-11-07(A09).
[3]中国人民银行济南分行调查统计处课题组.国际金融监管体制改革比较研究及对我国的启示[J].金融发展评论,2012(9):88-119.
[4]黄志强.英国金融监管改革新架构及其启示[J].国际金融研究,2012(5):19-25.
[5]邹阳.论后金融危机时代英国金融监管改革及对中国的启示[D].上海:华东政法大学,2014:24.
[6]The Wheatley Review of LIBOR:final report[EB/OL].https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/191762/wheatley_review_libor_finalreport_280912.pdf.
[7]Impact assessment:ring-fencing and depositor preference[EB/OL].https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/271115/Final_IA_-_ring-fencing_and_depositor_preference.pdf.
[8]王淯,陈团廷.英国银行业改革方向:防范跨行业风险传递[J].金融发展评论,2011(12):31-32.
[9]Governor of the Bank of England,Mark Carney's speech[EB/OL].https://www.gov.uk/government/news/bank-of-england-and-financial-services-billgiven-royal-assent.la.
[10]张景智.“监管沙盒”的国际模式和中国内地的发展路径[J].金融监管研究,2017(5):22-35.
[11]Bank of England.Financial Stability Report[EB/OL].https://www.bankofengland.co.uk/publications/Documents/fsr/2017/fsrnov17.pdf.
[12]习近平.决胜全面建成小康社会夺取新时代中国特色社会主义伟大胜利[N].人民日报,2017-10-28(01).
[13]胡滨,杨楷.监管沙盒的应用与启示[J].中国金融,2017(1):68-69.
[14]童中文,范从来,朱辰,等.金融审慎监管与货币政策的协同效应——考虑金融系统性风险防范[J].金融研究,2017(3):16-32.
[15]吴晓求.中国金融监管改革:逻辑与选择[J].财贸经济,2017(7):33-48.
[16]史炜,瞿亢,侯振博.英国金融统一监管的经验以及对中国金融监管体制改革的建议[J].国际金融,2016(7):3-9.
[17]Sinclair,Peter,Allen,William A.Monetary Policy Normals:Future and Past[J].National Institute Economic Review,2017,241:5-11.
[18]Bank of England and Financial Services Act 2016[EB/OL].http://www.commonlii.org/uk/legis/num_act/2016/ukpga_201614_en_1.pdf.
[19]Eddy Wymeersch,Klaus J.Hopt,and Guido Ferrarini.Financial Regulation and Supervision:A post-crisis analysis[M].Oxford University Press,2015.
[20]Ferran,Eilis.The UK as a Third Country Actor in EU Financial Services Regulation[J].Journal of Financial Regulation,2017,3:40-65.
[21]Osborne,Matthew,Fuertes,et al.In good times and in bad:Bank capital ratios and lending rates[J].International Review of Financial Analysis,2017,51:102-112.
(1)根据世界银行的数据,英国政府为金融产业提供的救助资金总计多达1.2亿英镑。Ed Farquharson and Javier Encinas,The U.K.Treasury Infrastructure Finance Unit:Supporting PPP Financing During the Global Liquidity Crisis(May 2010).
(2)Financial Services Act 2012,s3B(1).
(3)Financial Services Act 2012,A1(1).
(4)Financial Services(Banking Reform)Act 2013,Part 1.
(5)同(4).