Study Of The Institution Of Domestic Securities Supervision Based On Initial Public Offerings Supervision System

After decades of development, securities market has become an important power ofstimulating the national economy development, and has played an important role inpromoting social division of labor, etc. IPO (Initial public offering), the Initial publicoffering stock shares, refers to the enterprise selling its shares to the public for the firsttime. Securities market is developed from a capitalist market economy after a certain stageof development. Since it has been the focus of the government intervention from itsemergence, the government regulation of the western countries securities market shallbeen discussed. The securities market supervision system of modern western developedcountry, has achieved a relatively complete point. With its rich historical experiences andlessons, China mainland securities market shall treat it for reference.This paper tries to summarize the development of stock issuing system and itscorresponding regulation of the theory development history of the system. Through thepractical application of the IPO regulation theory, namely the initial public offeringprocess detailed analysis and comparison of the United States of America experienceissuance supervision of the securities market, this article intents to put forward feasibleimprovement, optimize the public audit system for the domestic securities marketsupervision, and in a more efficient and convenient regulation technique guaranteerationalization, mature stock market operation, and ultimately safeguard investors’legitimate rights and interests. The full text is divided into five chapters:The first chapter includes the historical development of the securities market in China,the existing structure and function, to comb the domestic stock market.The second chapter focuses to business enterprise initial public offering of securitiesissuance phase. Analysis the initial public offering specific rules of procedure andnecessary condition, and specially focus on the analysis of the respective responsibilities of the issuer, securities firms, law firms, accounting firms participants.The third chapter introduces the concept of securities issue supervision, focusing onthe securities initial public offering audit system. This chapter discusses enterprise initialpublic offering process regulatory role of responsibility of the parties, involving theadvantages and disadvantages. At the same time, compare the issue from both regulatoryaudit system and registration system in different market environments.The fourth chapter is the key chapter, which analyses the initial public offeringregulatory regime, and the "registered" listed regulatory system of special processes, suchas the difference between the federal and state information disclosure and substantialexamination mode, the influence of the relatively special public participants, the differentcategory of information publicity and public mode, the special financial verificationsystem, etc.The fifth chapter which summarizes the whole paper work, compares the advantagesand disadvantages of the supervision system for initial public offerings in China at thepresent stage, so on to put forward various feasible improvement opinions for it.