Research On The Legal System Of Enterprises In National Equities Exchange And Quotations Listing

Since January 16, 2006, non-listed shares of the company share transfer system(Hereinafter referred to as the "new three board")set up and run for the first time in the Zhongguancun Science Park, and followed by Shanghai Zhangjiang, Wuhan East Lake High-tech Park of Tianjin Binhai three, "Three new board", the new term gradually became popular in the country’s capital markets. And then December 2013 in the national public expansion, provide positive and effective financial boost for the development of SME(Small and medium-sized enterprises).It is now learned that because of the small and medium enterprises are not big, weak financial regulatory, and corporate governance mechanism is not perfect and other reasons, and it listed three new board faced in the process of significant obstacles, and we need to study how to deal with such problems.This article is in the above context, using historical analysis, value analysis, comparative analysis and other methods,and what is the concept for three new board come from, and it is needed to achieve the conditions listed, how three new board situation.The existing legal framework for comparison with foreign laws, which enjoy preferential three new board in the course of development, and also by an analysis of what kind of restrictions.At the same time, in the process and what the legal issues can and urgent need to improve, this paper will make a further analysis and presentation.New three-panel market as a new thing, is the cornerstone of the securities market.The reason of the establishment of three new board market because it is capable of millions of dollars and reach market conditions, the company offers equity trading platform.This is not only conducive to the development of SME, also help our country to build a multi-level capital market.By combining research status at home and abroad of the three new board, compared to the legal regulation of the securities market with the international market, and at this stage of the legal departments of science and technology enterprises listed on the Internet, and the future regulatory content of SME, making analysis.Listed for small business, three new board proposed a fundamental reform of legal advice, security and regulatory issues.