Researching About Sponsor's Duty

The substantive duties of sponsor include recommendation, tutorship, supervision , security and such like specific duties, which are mutually beget each other and are inseparable. sponsor should strictly meet the inflexible qualifications such like corresponding personnel elements, organization structure, elements of assets, asset structure and so on. On the side of sponsor's right, it should grant extensive rights to sponsor on investigation and evidence collection so that the sponsor could make an plenary investigation on the relevant item ; it should fix on as a rule that the sponsor has the right and also his compulsory duty to attend the shareholders' meeting, board meeting ; the system should grant some necessary exemption rights to sponsor as well. While making division on the duties of the sponsor and other intermediaries, we should consider the sponsor's examination ability on the professional suggestion that the intermediary provides, and we should not make excessive demands on the sponsor which demand him bear all joint liability for the specialized files that the intermediary provides ; we can adopt the way that the sponsor engages the intermediary to give professional advice to balance the relationship between the two. On the side of sponsor's responsibility for dereliction of duty, it should perfect the present administrative penalty measures properly, try to avoid overindulging sponsor's dereliction of duty as well as avoid hypercorrection which increase unreasonable punishment for sponsors . On the side of civil responsibility, it should allow the investor who suffers losing due to sponsor's ofenjoy the right to claim for the compensation to the sponsor ; sponsor should bear the joint liability to the investor together with the issuer for his misconduct such like false statement brings investor losing ; however, if the losing of investor due to the sponsor's dereliction of duty in supervision, the sponsor may bear the joint liability by proper proportion according to specific circumstances ; while the sponsor bearing the liability to the investor, it may adopt the doctrine of presumptive, presuming the existence of sponsors' misconduct, and the sponsor should testify whether he performs his duties with due diligence0...