Public Equity Research Legal Issues Raised

Financing for enterprises to solve the current operation and future development has a very important significance, but with the rapid development of the capital market and economy, the shortage of funds has become the first in the growth stage of start-ups and small and micro the biggest bottleneck in the development of enterprises are facing in the process of. The congregation to equity crowdfunding as a new Internet banking model, refers to the initial project sponsors the release fundraising project through the Internet platform, qualified investors to invest in new projects and get equity financing mode. This new financing model plays an important role in many aspects of enhancing the financing channels, reduce the cost of financing start-ups start-ups, which attracted a lot of attention. Many countries in the world have to revise and improve the legislative provisions to facilitate small and medium-sized enterprise financing, to accelerate the development of the domestic capital market. Until the end of last year, the China Securities Industry Association announced the "draft", the draft admitted the legal status of the public to raise equity and make some specific provisions, but the analysis will find that the provisions of the draft also exist some legal problems, inhibition of the congregation to raise equity to the rapid development in the country and facing enormous the risk of.Based on China’s equity crowdfunding for the legal issues of research topics, from the public offering of securities, investors access to financing, information disclosure, supervision from the congregation raised platform, investors and other aspects of analysis, to find out China’s current equity raise problems, as well as the imperfection of relevant laws and regulations in china. And according to the actual situation of China, to the public to raise equity financing from foreign experience, proposed consummates our country to raise public equity financing of the legal countermeasures to promote the development of SMEs, to achieve win-win results and to protect the interests of investors, safeguard the financial security of Internet in china. This text is divided into four parts:The first part introduces the issues related to the research background, research significance, research methods, research ideas and content arrangement, laying the groundwork for the following details.The second part to raise the legal problems of our public equity are summarized and analyzed. The first part is the basic issues of equity are introduced, including the concept, the characteristic, the congregation to raise equity participation in the operation process, and the current situation of the development and the necessity of our country. Then from the five aspects of China’s public equity raise legal problems.The third part on foreign equity raise legal regulation situation are summarized and analyzed. This part first introduces USA, Britain and Japan three countries to encourage the public to raise equity financing and rapid development has made laws to modify and improve, through comparison and analysis, summed up the worthy of our country learn from the experience of the legal regulation of the congregation to raise equity.The fourth part put forward legislative proposals to improve China’s legal system of the public to raise equity. On the basis of drawing lessons from foreign mature law experience, the integration of legal resources of private equity and all the existing chips, combined with the actual situation of financial market in our country, from the small issue exemption system, a system of qualified investors, the system of information disclosure, the congregation to raise equity capital trust mechanism, put forward the related legal advice in five aspects of share transfer rules. We hope to be able to be formally introduced to raise public equity legislation to help, to raise the public shareholding in China’s rapid development to create the good system environment.