Study On Law System Of Securities Private Offering In China

Securities private offering is one of the securities offering manners and it is the beneficial complementarity to securities public offering. The essence and core idea of securities private offering is exempted enrollment. Securities private offering has the unexampled predominance in the fields of accelerating raising funds and economizing financing offering cost. The value of efficiency which securities private offering has is just cried for the booming market economy in our country. On the foundation of using for reference to law system of securities private offering of USA and Taiwan, basing on the actual circs of our country, this thesis brings forward the elementary tentative plan about constructing law system of securities private offering in our country. There are four chapters in this thesis:The first chapter expatiates the basic theories of securities private offering. Firstly, concept of security, securities offering and securities private offering are defined in so many words. Subsequently, this part discusses the characteristic of securities private offering, and differentiates between securities private offering and securities public offering, securities private offering and lawless raising funds. Secondly, the function, value and disadvantages of securities private offering are analysed.The second chapter introduces the law system of securities private offering in USA and Taiwan. This part introduces roundly the rules of securities private offering in USA and Taiwan, and analyses the advantages of securities private offering in USA and the characteristic of securities private offering in Taiwan. These can provide the favorable reference to China.The third chapter introduces the history of securities private offering in our country. Firstly, this part introduces the history of securities private offering in our country, and analyses the reason that embarrassed the development of our securities private offering. Secondly, this part introduces the actuality of securities private offering in our country, and points out that the securities private offering practices have the flaws and it must be further perfected.The forth chapter advances the tentative plan of constructing law system of securities private offering in our country. Firstly, this part analyses the feasibility of actualizing the securities private offering currently. Subsequently, how to construct various concrete rules of law system of securities private offering in our country is discussed mainly. The writer suggests that it is a good choice that the examination and authorising mechanism of securities private offering is changed from sponsors system under the enrollment system to exempted enrollment system step by step, and under the circumstances of the investors must be matured, the strict qualifications limits of main body can protect the extended investors'benefits effectively.