With such a background , the author presents perspectives on some legal issues involving cross - border issuing and listing of securities . the paper can be divided into four sections 笔者正是在这种背景下，对跨境证券发行与上市中涉及的若干法律问题进行了较为系统的研究。
Article 151 a securities registration and clearing institution shall furnish the issuer of securities with the register of , and relevant information concerning , the holders of its securities 第一百五十一条证券登记结算机构应当向证券发行人提供证券持有人名册及其有关资料。
Business risks that were once seen as a lumpy fact of life are now routinely sliced up and packaged into combinations that generally suit issuers and investors alike 曾一度被认为是人生迭宕起伏的真实写照的商业风险，现在通常被分散后再重新组合成分别适合证券发行者和投资者的资产组合。
Article 4 parties interested in operations of securities issuance and trading have equal legal status and should abide by the principle of voluntariness , compensation , honesty and trustworthiness 第五条证券发行、交易活动，必须遵守法律、行政法规；禁止欺诈、内幕交易和操纵证券交易市场的行为。
Futures contracts based on financial instruments such as u . s . treasury bonds , cds and other interest - sensitive issues , currencies and stock market indicators 以金融工具为基础的期货合约。在美国，基础金融工具包括美国政府债券、大额可转让定期存单和其他与利息有关的证券发行、货币和股票市场指数。
Article 5 securities shall be issued and traded in accordance with laws and administrative regulations . fraudulent and insider trading and manipulation of the securities trading market are prohibited 第五条证券发行交易活动，必须遵守法律行政法规禁止欺诈内幕交易和操纵证券交易市场的行为。
The spv will then issue mbs back to the originating bank with the hkmc s guarantee of the timely payment of principal and interest in return for a guarantee fee 接著该专责发行公司会把按揭证券发行给原先批出按揭贷款的银行，而按揭证券公司会提供担保，保证按时支付本金和利息，并会就此收取担保费。
The author just from the aspect of the administrative law , do some analysis and discussion about the system of government regulation of the securities issue market in china 第二部分是证券发行市场的政府监管模式,总结了政府监管主要几种模式及其优点和不足,对我国政府证券发行市场监管起到的借鉴作用。
