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美国是联邦制的国家,联邦与州具有不同的立法权。与公司有关的立法在北美殖民地时期沿袭英国传统,特许公司由英国国会批准设立。后来,地方当局开始具有颁发特许状的权力。美国独立之后,各州顺利成章地成为公司事务的规制主体,而联邦则一直对这一领域保持克制。随着美国公司规模的扩张,联邦政府开始进行反垄断立法,1890年《谢尔曼反托拉斯法》是其开端。1929年美国金融危机的爆发,联邦政府加强了对金融市场的监管,颁布了《1933年证券法》和《1934年证券交易法》。这些立法对于公司也具有规制作用,而且其作用越来越重要。因此,美国公司法呈现出以州为主导,联邦通过反垄断法等法律同时进行干预的二元规制格局。
The United States is a federation of countries, the federal and state have different legislative powers. Company-related legislation follows British traditions during the North American colonies, with the concessionaire approved by the British Parliament. Later, local authorities began to have the power to issue charters. After the independence of the United States, the states succeeded in becoming the subject of regulation of corporate affairs, while the Federation kept restraint in this field. As the size of the U.S. company expanded, the federal government began antitrust legislation, beginning with the Sherman Antitrust Act of 1890. In 1929, when the financial crisis in the United States broke out, the federal government stepped up its supervision of financial markets and promulgated the Securities Law of 1933 and the Securities Exchange Act of 1934. These legislations also have a regulatory role for the company and their role is more and more important. Therefore, the US company law presents a dual regulatory structure led by the state and the federal government intervenes through antitrust laws.