The Study On The Legal System Of Supervision Of Sponsors

For the first time China stipulates sponsor system is in "Provisional Measures on the Sponsor System for Securities Issuing and Listing", which issued in October 2003.The sponsor system is aimed at making the sponsor plays a role as "No.l doorman" in the link of securities issuance and forming a kind of compulsory external supervision and verification mechanism for the listed companies and intermediary agencies which provide professional service for company listing. But, with the implementation of sponsor system, it happens a lot that the sponsor accommodates to the controller of listing company, to avoid this case, it is necessary to carry out strict supervision to the sponsor system. A series of legal system are needed to ensure the effective implementation of the sponsor system. This paper will focus on the discussion on the legal system of the sponsor supervision.The first part mainly analyses the sponsor supervision system and its value. First briefly introduces the connotation of sponsor supervision, and then illustrates its range from permission supervision and duty supervision, last is a preliminary analysis on the meaning and value of sponsor supervision system.The second part is the focus of sponsor supervision system and its perfection. First points out the defects in current legal system in our country and gives a suggestion on its reform and improvement, the author makes a thoroughgoing analysis of the subject, the object, the context and the legal responsibility of the sponsor supervision system respectively, offers some constructive suggestions.The third part is the analysis on the improvement of the permission supervision system of sponsor and sponsor representative, elaborates on permission of sponsor agency and the sponsor. On the permission of the sponsor agency, introduces the permission system, on the basis of which, gives some advices on its reform and improvement. The author also introduces the permission system of sponsor representative and gives some constructive suggestions on its perfection.The fourth part is about the supervision system of the sponsor taking up duty and how to improve this supervision system, first introduces the scope of duty particularly, and then analyses the defect in the sponsor duty supervision, on the basis of which, offers concrete measures on its perfection.