China Securities Private Placement Information Disclosure System Of Legal Research

Because of features of high-efficiency, convenience and economy, Securities private placement has become one of the most important financing resources for enterprises in capital markets of developed countries and regions. In china, there's still no legal status for securities private placement and its supporting measures. But fortunately, the system of non-public offering stipulated in security law laid the foundations of the final establishing the private placement. There are lots of differences between private placement and public offering, and information disclosure is one of the high spots. Through introduction and analysis of information disclosure in terms of securities private placement in USA and Taiwan province of China, this paper primarily aims to establish information disclosure system of securities private placement in China, which can give the law suggestions for private financing and promote the development of stock.This paper mainly composes of three parts, including introduction, main body and conclusion. The main body can also be divided into four sections as follows:Chapter one discusses the basic theories of information disclosure system of securities private placement. Through analyzing the definitions of information disclosure, securities private placement and information disclosure of securities private placement, we have known the features of information disclosure of securities private placement, and discovered its law values, that is, efficiency value, fair value, order value.Chapter two focuses on the information disclosure system of securities private placement in USA and Taiwan province of China. This chapter introduces the origin and development of information disclosure system of securities private placement in the USA and Taiwan Province. We research and analyze the innovative ideas for information disclosure system of private placement in the USA and Taiwan Province, which provides legislative reference for establishing the system in China.Chapter three addresses the status and legislative missing of information disclosure system of securities private placement in China. After comprehensively collecting the current regulations about information disclosure of securities private placement in our stock market, then analyzing and reviewing the regulations themselves and the existed problems of the whole legal framework, we indicate the reasons, and suggest that we should carry out reform from legal perspective, in order to build a integral and reasonable legal system for information disclosure of securities private placement in China.Chapter discusses legislative building for information disclosure of securities private placement in China. This chapter is the main part of the whole article. Based on drawing the information disclosure system of securities private placement in USA and Taiwan Province, we advise the general idea and build the information disclosure system of securities private placement from the aspects of subject, scope, modalities, time & frequency, object distinction, continuous disclosure, regulatory and legal responsibility.