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在本次全球金融危机之后,金融消费者保护理念和金融稳定理念的强化,促使美国加强SIFIs反垄断规制,以保护金融消费者权益,防范和化解SIFIs“大而不倒”所致的道德风险,弥补全球金融治理体系的缺陷。同时,金融霸权主义是美国加强SIFIs反垄断规制的现实诱因。由于SIFIs所处金融行业的特殊性,美国SIFIs反垄断中的相关市场呈现出地理市场扩大化、全球化,产品组合市场与差异化产品市场并行的特征。在金融全球化时代,我国金融市场与全球金融市场紧密相连,国内已经发生了SIFIs反垄断案件,故SIFIs反垄断规制是我国面临的现实难题。为了弥补金融业反垄断制度供给的不足,可以从理念和具体规则上借鉴美国SIFIs反垄断规制的经验。
After the global financial crisis, the strengthening of the concept of financial consumer protection and the concept of financial stability have prompted the United States to step up antitrust regulation of SIFIs in order to protect the rights and interests of financial consumers and prevent and resolve the SIFIs Moral hazard to make up for the shortcomings of the global financial governance system. At the same time, financial hegemony is the real incentive for the United States to step up the antitrust regulation of SIFIs. Due to the particularity of SIFIs in the financial industry, the relevant markets in the antitrust system of SIFIs in the United States present characteristics of the parallel expansion of geographic markets, globalization, product portfolio markets and differentiated product markets. In the era of financial globalization, China’s financial markets are closely linked with the global financial markets. SIFIs antitrust cases have taken place in China. Therefore, the antitrust regulation of SIFIs is a real challenge for our country. In order to make up for the lack of supply of the anti-monopoly system in the financial industry, we can draw lessons from the ideas and specific rules from the experience of antitrust regulation in the United States SIFIs.