Research On The Improvement Of The IPO Information Disclosure System Under The Registration System

In the third Plenary Session of the 18 th CPC Central Committee the issue of promoting the stock registration system reform ", the official opening of the registration system reform in China. Subsequently, the State Council issued the " several opinions on " to further promote the healthy development of the capital market clearly pointed out that the registration system established in accordance with the requirements of the information disclosure system is the core of the reform of the registration system. But China’s current information disclosure system is set up on the stock issuance examination system on the basis of the registration system and there are many discrepancies. Therefore, the background of the registration system, how to build " information disclosure system registration system characteristic, is the starting point of the paper.This paper starts from the analysis of the nature of the registration system, comparing different characteristics of the registration system and approval system, summarizes the special requirements on the issue of information disclosure system in the registration system.Expounds and comments on China’s current information disclosure system and registration system does not match the, including information disclosure focus blur, disclosure issues such as lack of rigid way, market lack of supervision and to investors of the civil protection;on the other hand reference and absorption of the United States and Japan have information disclosure system of mature experience, put forward to perfect our country IPO information disclosure system specific advice to improve the IPO information disclosure rule system, to improve the regulatory system and the perfection of civil liability system three aspects from the.