The Studies Of China Sponsor Legal Responsibility Issues

Since2003when it established,sponsor system of china developed nine years. Duringthese years,sponsor system improved the supervision of Chinese securities market,the listedcompany qualities and the protection of public investors. However as sponsor itself is also acommercial market entity, how to improve the supervision on the sponsor system has becomean important issue to explored.This paper synthetically adopts the methodology of comparative and casestudying,analyzes currency sponsor system，in order to solve the issue of legal obligationsponsors better and improve the self-discipline consciousness of the sponsors. This paperconsist of three parts:Part one is basic theory of sponsor system,including definition and history of sponsorsystem,the distinction between sponsor and sponsor representative,and introduction of theoverseas sponsor system，including typical model of Britain,US and Hong Kong.Part two introduces and analyses the legal duty of sponsor. Comparing the overseassponsor systems,I propose on how to improve the legal duty of sponsor.Part three analyses sponsor’s legal liability,and studies the administrative, civil,andcriminal liability respectively and provides the proposal on how to improve the legalliability,such as enhancing property penalty in administrative law,improving the civil courtproceedings,and ascertaining sponsor’s criminal lawsuit defendant qualification.,etc.