The Research On Regulatory Legal System Of Private Offering Fund

Private offering fund originated from United States,which appearance consistentwith the macroeconomic background of the growing public wealth and therequirements of receiving other approach to value-added. Compared with the publicoffering fund, private offering fund demonstrates obvious advantages, such as flexible,adaptable and having a bright future. Nowadays, private offering fund becomes animportant force of international capital market and states have to enact laws forspecification. With the development of private offering fund, it have an increasingimpact on capital market and economic of China. Simultaneously, its potential risksthreat the stability of our financial market. Therefore, we should learn from the othercountries`experience and combine with the actual situation, then propound proposalsconcerning regulatory legal system of private offering fund of China.The research comprises4parts as follows:Chapter I, private offering fund overview. This part summarize the definition,character, species and character of private offering fund and make a comparativestudy on private offering fund and public offering fund. Obviously, private offeringfund have many strengths and weaknesses. This part provides a theoretical basis forconstruction of regulatory legal system.Chapter II, Taiwan, China and foreign regulatory legal system of private offeringfund. This section describes the legal system of private offering fund of United States,Britain, Japan and Taiwan, China. In addition, summed up the advantages anddisadvantages of regulatory systems, which provides a reference for our country.Chapter III, Analysis of the development and legislation of private offering fundin China. This part expounds the causes, history and problems of private offering fundin China. While China has yet to clearly definite private offering fund, it can operateaccording to relevant legal system.Chapter IV, specific establishment of legal systems on private offering funds inChina. First, identified the regulatory goals: protection of investors；protection ofmarket fairness, efficiency, transparency；reduce systematical risks. Second, putforward three regulatory principles: appropriate, justice and development. Thus, weshould establish a market-based self-management regulatory regime, besides, adoptappropriate government supervision. Furthermore, through subject and content partsestablishing regulatory legal system of private offering fund in China.