Small And Medium-sized Enterprises New Three Board Listing Legal Risk Research

Because of the new three board market threshold is low,small and medium enterprises listed on the new three board have become its access to financing,to achieve its own development is one of the only way.To the number of small and medium enterprises listed on the new three board to grow,but it can in the new three board listing of small and medium-sized enterprises is not smoothly,small and medium-sized enterprises how to successfully implement new three board listing,has become an urgent need to solve the problem.One of the most critical problem is how to avoid the legal risks exist in the process of listed.In this paper,the definition of the new three board market,set up purpose and function,this paper compared with main board and gem market,analysis the advantage of small and medium enterprises listed on the new three board:one is to enhance enterprise stock liquidity,improve enterprise valuation;The second is to provide the financing channels,improve credit rating;Three is to perfect corporate governance structure,and standardize management of the enterprise;Four is to enhance the brand value of enterprises and enhance the awareness;Five is to realize the enterprise fast turning plate,the enhancement enterprise flexibility.To clarify the necessity of small and medium enterprises listed on the new three board.Again based on the new three board market system itself,including legislation,trading system and information disclosure system,analysis of the new three board market is institutional defects,and then the specific problems in the process of small and medium-sized enterprise listed were analyzed,and the judgment of the small and medium enterprises listed on the new three board specific legal risks,including the related party transactions and competition,equity holding and bet against legal risks of the agreement,and targeted to the above risks,to circumvent the measures are put forward,finally the new three board system itself,improve its market system’s Suggestions and opinions,both,to help small and medium-sized enterprises to evade the legal risks of the new three board listing,achieving new three board listing,promote small and medium-sized enterprise financing ability.