An effective supervision system is the system which can identify and prevent risks from occurring in a timely manner and not the one which can only compensate losses afterwards.
一个有效的证券监管系统应该是能够对风险进行及时预防的系统，而不是仅在风险发生后进行消极补救的系统。
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But the system's "non-market" quality and its afterwardssupervision feature determine that it could only be transitional.