注册制与核准制相结合，是现代各国证券发行监管的一种趋势。
The combination of the registered system and the authorized system are the trend of the supervision on the securities market.
本文在导论部分首先介绍了证券、证券市场、证券发行及发行监管四个基本概念，为本文论题的展开作了铺垫性介绍。
The supervision of negotiable securities issue, the first strobe of the stock market, will directly affect the development and stability of the negotiable securities trading market.
这项规定的结果是，对冲基金活动以及基金的发行和运作费用将受到更严的监管。
As a result of this regulation, oversight of hedge-fund activities will be greater, as will the cost of launching and operating a fund.
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