The Research On Connection Transaction Legal Supervision System Of Our Country

Connected transaction is a common economic behavior in modern business activities. In practice, the function of connected transaction is two-sided, it has economic value but aslo usually brought great harmful consequences, which is the root cause that relevant laws should make strict supervision to it. The basic goal of legal supervision to connected transaction is make full use of connected transaction's economic value while reducing the danger maximum, take prevent the connected person from abuseing the right or power as the core. When make supervision to connected transaction, the law of various countries all take the information disclosure and the special approve procedure as its basic content and emphasizes the restriction to the company's management and controlling shareholders.Some legal departments of our country sunch as Comgpany Law, Securities Law, Accounting Law all have make corresponding system standard to connected transaction from different angles.But on the whole, China's legal supervision system of connected transaction has defects in procedure rule, the company internal surveillance and the responsibility system, is unable to fully guarantee the security of connection transaction.Looking from the applicable scope and adjusting mode of various law departments, Company Law is more suitable to make supervision of connection transaction. In order to strengthen the constraints on connection transaction and reducing its' danger, China should improve the relevant provisions of Company Law as as the center, perfect the connection transaction legal supervision system on the basic of fully investigate and use for reference from overseas countries and regions of their legislative experience, from the aspects of strengthening controlling shareholder fiduciary obligation, improve the procedure rule of connection transaction and strengthening the role of supervisors.