The Acquisition Of Listed Companies In Information Disclosure Regulation Research On Legal Issues

The information disclosure system is an essential part of the acquisition for listed companies' supervision,because of its close relationship,which originates from a sound system of information disclosure of listed companies with listed companies,investors' interests,and the securities market level.Minority Investors need to make the correct judgment by the information disclosure,and the securities market information disclosure also need to operate effectively.Therefore,it is a decisive role what to supervise,the degree of information disclosure supervision,and how to supervise in the acquisition process in the healthy development of securities market.Though the acquisition of listed companies information disclosure supervision legislation have been made great achievements,there are still existing problems of information disclosure.Information disclosure obligation of the consensus main provisions target companies' director are not specific,the early-warning mechanism of holding stocks without practice,and the problems of information disclosure in sources of funding or unclear actual investors of leveraged buyout.After an illegal operation,the person wouldn 't be punished,and failing to protect the interests of minority shareholders.Therefore,each subject in the acquisition of the market,which is the body of the information disclosure,agency and media should carry out their duties,and regulators also need to play the role of the "invisible hand".It is an important responsibility for regulators that beforehand undertakes superintendency,strict supervise and ex post facto punishment to ensure that the information disclosure is true,accurate,complete,timely and effective ultimately.Except preface and abstract,the whole text is divided into four chapters.The specific contents are as follows:In chapter 1,firstly I introduce the definition,classification,content and basic principles of information disclosure regulation in the acquisition of listed companies,and then expound the necessity of the information disclosure regulation in the acquisition;In chapter 2,after the takeover of the listed companies information disclosure supervision of the United States,Europe countries and China's Hong Kong,I expound these aspects from the subject of the takeover information disclosure obligation,the shareholding warning system and leveraged buyout,which pave the way to solve the existing problems of the supervision in the following paragraphs.In chapter 3,combined with the practice of "Vanke incident" and other cases in the acquisition of the problems,I expound the problems of the information disclosure regulation in the process of the acquisition of listed companies;In chapter 4,in the light of the problems raised in the third chapter,this part discusses how to improve the supervision system of information disclosure in the acquisition of listed companies,such as the supervision of the subject of the takeover information disclosure obligation,the shareholding warning system and leveraged buyout.