Legal Regulation Research On The Equity Crowdfunding

With the rapid development and popularization of Internet,the world have a great change of the financial landscape,the Internet become China's financial sector is also out for financial innovation and development of catalysts,especially the emergence of Equity Crowdfunding,to solve the problem of corporate finance provides a new thought.Then gradually exposed some problems,and equity crowdfunding in China the first encountered whether legitimate,after encountering the problem how to make equity crowdfunding for regulators.The series of practical issues on the agenda: the equity crowdfunding of the foreign mode can be transplanted to raise in China? If we can transplant,the existing legal framework can assume regulation task? Autonomous state control and market,and what is the official and folk balance? If the framework by current mechanism can solve the problem of equity crowdfunding in China,you will need to solve the problem of what to build China model ? With these problems,this article from the development of the equity crowdfunding and the raise generalization and basic problems,analysis of the necessity of regulation of equity crowdfunding,combed the foreign advanced practice and experience for reference,to clarify the stake in the Chinese context to raise the status and existing problems of legal rules and regulations,and on how to improve the equity crowdfunding and the raise legal regulation puts forward the corresponding Suggestions.This article includes the introduction and conclusion altogether seven chapters:The first chapter is introduction.Starting from the selected topic background and the research questions of this article,this paper expounds the academic significance and practical significance of this topic,reviewing the current literatures at home and abroad,to form the literature review.Subsequently,also introduced in this paper,the research ideas and research methods,as well as the possible innovation and inadequate.The second chapter expounds the development of equity crowdfunding and the basic problem.The first quarter introduces the origin and evolution,the raise of the raise and the relationship between equity and equity crowdfunding,the concept,the value,the development situation of our country's stake.The second discusses the equity crowdfunding of legal relationship,and criticism of private properties,reduction of equity crowdfunding their own properties.The third quarter cited the first case,analyzes the current equity crowdfunding about what problems in our country,the regulation and behavior regulation and the subject of parallel train of thought.The fourth quarter regulation equity crowdfunding the theoretical basis in depth analysis of the necessity and rationality,equity crowdfunding of regulation which involves the private law autonomy and free market,asymmetric information,agency conflict,collective decision-making and social effect,economic freedom and a new theory of the introduction of nationalism,etc.The third chapter for equity crowdfunding the main body of the regulation problem.Equity crowdfundingthe main body of the public is among the investors,financing the originator,equity and the raised platform.This chapter explores the nature of these three kinds of main body,characteristics,elements,especially the three main body should be bound by what kind of law respectively.The first quarter,this paper discusses the problems existing in the system of public investors,investors outside certification system and the direction of the future regulation of the public investors,investment capacity combined with investment money.The second quarter,probes into the financing initiator system,outside the issuer qualification and corresponds to the system of the allocation of resources and market environment.The third quarter the raised platform,platform access and responsibility are discussed,the consideration of public trust and regulate equity crowdfunding the thinking of the raised platform in the future.The fourth chapter for equity behavior regulation problem in the raise.The first quarter of the probes into the mode of investment behavior limits,thinking,experience,regulate the direction of the future.The second quarter,this paper discusses the financing behavior regulation of the game,said the problem,the expected benefits protection problems and the direction of the financing restrictions.The third quarter,platform,respectively discusses the equity crowdfunding of the raised platform shall be regulated six kinds of behavior.Chapter fifth for equity crowdfunding a concrete analysis of the legal system in our country.According to the survey conclusion as in the previous chapter 4 of the analysis shows that equity crowdfunding is the raise in China currently have acceptable,but it is only a primary stage of development,adjust the market environment of the legal construction is still should be actively explore.Based on the domestic environment,this chapter analyzes the current legal system of China's stake in the raise of legitimacy,limit,platform access and regulation,investor protection,limit financiers,exit the transfer and other specific issues in dispute resolution mechanism.Chapter 6 in this paper,the equity crowdfunding of the theoretical basis,the main body regulation problems,behavior regulation,supplemented by the discard of the advanced experience and the domestic outside finance an extensive questionnaire,the author has a good reason to come to the conclusion,that our country needs to perfect the equity crowdfunding management law,from all aspects to perfect legal system of equity crowdfunding,as soon as possible to carry out the equity crowdfunding of regulation measures,believe that equity crowdfunding of the legal system will bring new power for the development.The chapter 7 is the conclusion.The last is the investigation and analysis.