Gem Research A Number Of Legal Issues

Shenzhen Stock Exchange on October 25, 2009, which not only marks the multi-level construction of China's securities market has achieved substantial breakthroughs, but also means the stock market of GEM and listed companies of GEM become the "new engine" of the innovation economy. Studying legal problems of the companies listed on GEM which has great significance to the healthy development of the protection of the GEM market.In this paper, against some of GEM listed companies with fraudulent information the disclosure of false, director of retirement cash, a false market and other illegal acts phenomenon in China's Growth Enterprise Market, we argue the topics of GEM listed companies. Seeking the good way of regulation in order to improve our securities Law and Company Law and related legal system.The paper use literature analysis, comparative analysis, interpretation, and empirical and other research methods, first overview basic theory of the GEM and EM listed companies; Second, for our present situation and problems in the legislation, the paper analyzes legal issues on the Growth Enterprise Market in China for the last two years, such as directors of listed companies for the resignation of the GEM cash behavioral problems, GEM delisting system problems, GEM information disclosure system problems, the protection of the interests of minority shareholders of listed companies of the GEM. We analysis of the root causes of the social and legal moment that generate. Again, we analyse the basic system, the advantages and the successful experience on the U.S. Nasdaq market and Korea Kos Nasdaq market by the combination of foreign legislation and judicial practice, and also review the relevant regime can learn from nature. Finally, we use interdisciplinary theory of the company law, securities law, regulatory law to put forward legislative measures of the regulation GEM directors resigned behavior, as well as the establishment of companies listed on GEM delisting system, improvement GEM listed company information disclosure system and the protection of the primary and secondary shareholders interests of the GEM. In short, it is of great theoretical and practical significance to study the legal issues of GEM listed companies in China, not only conducive to the stable development of China's market economy, but also conducive to the implementation of the implementation of the strategic goals of independent innovation.