摘要
境外子公司跨境业务风险管控薄弱,相关理论研究滞后,凸显证券公司开展穿透式管理的紧迫性。本文阐述了证券公司跨境业务穿透式管理机理,指出要确保境外子公司展业及行事作风时刻跟随母公司的风险偏好。剖析典型案例,以现货业务为重点,紧盯对手方风险,诠释了穿透式管理路径与作用机制。梳理穿透式管理中的现实难题,要靠内外协同来解决。结论强调,穿透式管理重在把控业务方向,实现业务发展和风险承受的动态均衡,不应“为限制而控制”,讲求成本效益。建议监管机构完善服务举措,有效发挥指导、协调和监督作用,提高穿透性管理可操作性。本文填补了穿透式管理研究空缺,提炼出穿透性管理工作要点,有效促进了穿透式理论和实践融合共进。
Because of weak risk control of cross-border business of overseas subsidiaries, and lagging of relevant theoretical study be presented, urgency of securities companies to carry out penetrating management. This paper expounds mechanism of cross-border business penetration management of securities companies, points out that securities companies should ensure overseas subsidiaries’ business development and behavior style following risk preference of parent company. Through analysis of typical cases, highlighting spot position, closely grasping key element of counterparty risk, it explains about penetrating management path and action mechanism, Sort out practical problems in penetrating management, of which need to be solved by internal and external cooperation. The conclusion emphasize that implementation of penetration management focuses on controlling business direction, and dynamic balance of business development and risk tolerancet, not “controlling for restriction”, in the meantime, cost-effectiveness be stressed. It suggest that regulators should improve service measures, effectively play the role of guidance, coordination and supervision, increase operability of penetration management. This paper fills research vacancy of penetrating management, refines key points of penetrating management, and effectively promotes integration and simultaneously progress between theory and practice in penetrating management.
作者
马保明
Ma Baoming(Shan Xi Securities Company Limited)
出处
《金融发展评论》
2022年第5期62-71,共10页
Financial Development Review
关键词
境外子公司
跨境业务
穿透式管理
案例
Overseas Subsidiaries
Cross Border Business
Penetrating Management
Case
