A Study On The Legal Regulation Issues Of Equity Crowdfunding

Equity crowdfunding the article discussing refers to a mean of raising money for the medium,small or micro-enterprises to the public in the internet on a platform,returning on equity as a financing tool.The development of equity crowdfunding is in a primary stage,legislation is in an exploring level,there are many burning issues about equity crowdfunding on legitimacy,the limit and protection of the financiers and investors,platforms access.This paper will analyze the regulation of foreign legal and domestic law obstacles to equity crowdfunding.Combined with the specific situation in our country,the current law to equity crowdfunding provides the regulatory direction,the future amendment,supervision and other suggestions.This article is divided into four parts to discuss the issues of equity crowdfunding:The first part on equity crowdfunding is introducing the concept,characteristics and classifications and compared with lending model,clearly defining the connotation and the extension of it,and from the legal relationship of subject,object content detailed the legal relationship which involved.The second part mainly analysis that equity crowdfunding obstacles faced by the current legal framework,including the definition of fuzziness,under the perspective of commercial law and criminal law in the regulation of adaptability.The third part is to introduce the extra territorial laws' value orientation and regulation to the equity crowdfunding,mainly around on protection and regulation of the financiers and investors,of the congregation platforms for the qualified analysis,providing valuable experience of reference for equity crowdfunding in China on the legislative development.The fourth part is based on domestic legislation and foreign legislation experience,from equity crowdfunding to raise financing qualifications and behavior regulation,investors' protection and platform system design,recommended the development of its supervision and management regulations;and according to current resistance affect,putting forward appropriate repair advice,improving it to raise the legal regulation.