A Study On Legal Regulation Of Over-The-Counter Market In China

While the OTC market is in the lower level of the capital market of a country, it is an indispensable part. To meet different needs of financing, the OTC market shall develop with the Stock Exchange. OTC market can provide a platform for the enterprise investment, stimulate the vitality of market and the independent innovation ability of enterprises. The development of OTC market is relatively mature in America, Britain and Taiwan, by looking at the OTC market in these places, we can see that the OTC market is distinct with flexible exit and transfer mechanism and can meet the needs of different subjects. At the beginning of the development in China, OTC market has experienced the process of blow and outlaw, and now it begins to gradually develop, from the property trading market to the Agency Share Transfer System to the markets such as Tianjin OTC market. It has become the focus of theoretical and practical circles of building perfect OTC market in our country.From the perspective of law, based on the actual situation of the OTC market in our country, through comparative analysis of the OTC market and the legal system in developed countries and regions and reviewing the development of the OTC market, This thesis analyses the basic theoretical of the OTC market in China and studies on how to regulate the OTC market in our country. This thesis first introduce the conception, definition and function of the OTC market, on this basis, with the analysis of the OTC market’s development and regulation in developed countries and regions such as America, Britain and Taiwan, summed up the instructive experience to China; And through the research on the history of the OTC market in China, this thesis points out the existing deficiency of OTC market in China. At the end, aims at these shortcomings, this thesis put forwards such suggestions as to establish the legal status of the OTC market and to design specific legal system in China including trade, access, information disclosure systems and so on.