On The Legal Issues Of International Securities Placement

With the development of economy globalization, the internationalization of securities business has speeded up. The placement of international securities is becoming more active, and accordingly the legislative mode and securities law changes rapidly. This thesis tries to put forward some proposals on the regulations of China's securities placement, which is based on the study of the legal problems concerning international securities placement, as well as on the analysis of the supervision system and information disclosure rules on the issuing problem of China's present legal environment.We can understand the placement of the international securities throughout the whole world from the following points. The first is the supervision form of different countries. Self-governed form (which stands by British's) and law-governed form (which stands by America's) are the two typical ones. The second is the supervision regulations of the country which the issuing action taken place. The issuers have to abide by the regulations of native together with abroad when dealing with the placement of international securities, while the latter is more important. The supervision of the country that the securities issued is mainly embodied by the supervision system and the rule of information disclosure. The combination of the registered system and the authorized system are the trend of the supervision on the securities market. All the countries are attaching much attention to the rule of information disclosure that takes the full disclosure principle as the core theory, however, they may have difference on the specific regulations. The third is thecooperation of the international supervision on securities market. More and more countries are seeking to international cooperation by the way of the foundation of international organization, the signing of memo, and the set up of uniformed regulation standard.The internationalization of securities market provides China with chances of the utilization of foreign capital, as well as the ways to invest in international finance market. Our securities market is still young, and a lot of problems left in our regulations on the placement of securities. From this point, we should emphasize the rule of information disclosure, regulate the supervision institutions' power, strengthen the self-governed organizations and develop our supervision system from the authorized to the registered, during this course, we should enact more elaborated and specified laws and regulations.