Legal Regulation Of The Stock Over-the-counter Market Research

This thesis includes introduction and text. The text is divided into four parts,there is a brief summary in every partThe introduction explains the context of subject-choosing and the significanceofthe legal regulating in the OTC Share Market It makes the scope of study in theregulation of the OTC Share Market clear by defining it as "the market in whichthe non-listed shares are exchanged by Securities Company outside the Shareexchange". Meanwhile, it introduces the main thoughts and methodology of thisthesis.The fist part outlines the OTC Share Market and its regulation in the USA,Taiwan Province of China and the Mainland of China. It briefly introduces thecurrent situation of the OTC Share Market in the USA, Taiwan Province of Chinaand the Mainland of China, compares the different features among them. The firstpart reveals the evolutions of the legal regulating in the other countries, districtsand our nation by the research in the establishment of the legal regulatingmechanism of OTC Share Market and the formulation, modification of theregulation in OTC Share Market.The second part overally reflects the idea of legal regulation which was basedsolely on prohibition, analyzes the cognitive reason for the formation of the idea oflegal regulation which was based solely on prohibition. The extent and degree ofintervention by the government epitomizes the idea of legal regulation which wasbased solely on prohibition, this part discourses learnedly on the extent and degreeof intervention by the government. It reveals the crucial factor in the formation ofthe idea of legal regulation which was based solely on prohibition by illustratingthe Value Superiority Principle which is aimed to resolve the conflicts of values.The third part focuses on the aim of "constructing a national OTC Marketunder the central supervision". The author researches the main content of theregulation in the USA, Taiwan Province of China and the Mainland of China: theinstitution of going public in OTC Share Market, continuous informationdisclosure of issuer in OTC Share Market, the special legal regulation of theSecurities Company in OTC Share Market. In the forth part, based on the comparative analysis of the idea and content ofthe legal regulation, the author put forward the idea of legal regulation in "anational OTC Market under the central supervision" and its aim of revision incontent, and analyzes the chance for revising the OTC Share Market legalregulation. The obstacles to revising the OTC Share Market legal regulation isgeneralized in a deep-going way. After overally analyzing the opportunities ofrevising the OTC Share Market legal regulation in the positive aspect as well asnegative, the author put forward the tactics for revising the OTC Share Marketlegal regulation.