Securities Private Offering Legal Issues Research In China

In2005our country new revision of the "company law","securities law" and in2013the new enacted the law of the People’s Republic of China on securities investment fund law "of the securities private offering from the side, however, both the law not to private offering of securities supervision system line regulation, is very unfavorable to the actual operation in real life, not conducive to the stability of the market economy in our country. This article mainly is aims at the supervision of securities private offering subjects, distribution and resale restrictions and elaborates the problems existing in the aspects of information disclosure, using the experience of the United States, in order to perfect our country private regulatory legislation.The study, this article intends to draw lessons from the United States to perfect our country the lack of private equity securities issued. American securities private offering and regulatory relatively developed, although not completely suitable for China’s specific national conditions, but the study on problem of private offering of securities in China is still of great value. The study of securities private offering system in the United States, can be said to be rich achievements. The U.S. private securities system building is mainly around the convenient financing this theme, the exemption system is its core characteristics. To meet the release behavior of private securities, the SEC will release its registration obligations, almost no longer official on private equity securities regulation, to facilitate the financing. Us about the registration system of exemption, for our country to perfect securities private offering behavior, provides a useful reference template.