The Dilemma of Cross-border Financial Supervision—Based on the Operational Analysis of China's New Securities Law

Abstract

With the new securities regulatory law promulgated by the Securities Regulatory Commission coming into force on March 1, the long arm jurisdiction clause in the new securities law of China has come into force. The entry into force of the legal clause provides legal sanctions for the examination and approval of the financial fraud event of Lucky Coffee. However, the current long arm jurisdiction clause has only its framework content, and the lack of detailed rules for its implementation increases the difficulty of legal implementation. This paper analyzes the domestic and foreign regulatory laws of the Lucky Coffee case, and analyzes the imperfections of the current securities law and cross-border in China, and puts forward feasible suggestions for better protecting the rights and interests of investors at home and abroad, and improving the current cross-border financial supervision in China.