Research On The Supervision System Of Internet Non-public Financing

Throughout the current world economy,the combination of science and technology and financial has prompted the economy soar again,on the other hand,the pace of financial innovation in our country in recent years is quickened.Along with the deep integration of the financial with Internet,big data and cloud computing technology,Internet finance brings a big revolution to the financial industry.As the equity crowd-funding growing quickly,and the scale increasing sharply,it has attracted more and more investors,but the risk and problem exposed during the period of the development.They are increasingly becoming stumbling blocks to hamper the industry's progress.Under the mode of the unique cultural genes and the pattern of law in China,the government points out the limitation of "Equity crowd-funding".The definition of "Equity crowd-funding" single finger the right of public offering,and the current Private Equity is identified as the “Internet Non-public Financing”.With the fleet efficient and huge ability for the integration of resources,Internet reduce the information communication cost,and the financing become faster and more accurate.The openness of Internet makes a challenge for the regulatory system of Private Placement.So the original intention of this paper is in order to set up perfect supervision system to promote the normal development of Internet Non-public Financing.I think there are three directions in the key points of supervision system,including monitoring the platform,protecting investors,examining qualification of financier.This paper is composed of five parts:The first part introduces the clear definition concept of the Internet Non-public Financing,describes current situation of Internet Non-public Financing,analysis the development mode in Internet Non-public Financing.The second part defines the concept of supervision system,analyses the necessity of the supervision,and the study from the legality of platform,the industry needs,the investor protection and financing.The third part introduces the situation and existing problems in the Internet Non-public Financing supervision system,containing lacking of legal basis,improper regulatory system,excessively strict standard of investors,deficient in the qualification examination of financiers and the information disclosure.The fourth part is the part of study of the legislation experience abroad,which introduces the mode of regulation and supervision measures.In this part I introduce several typical regulation patterns in detail,analyzing a few representative measures from positioning the platform,approving the qualification of investors and financiers.The fifth part is the advice of building Internet Non-public Financing supervision system.Firstly,the government should give a clear legal status to the platform of Internet Non-public Financing.Secondly we should build the common supervision system,establish oversight system of the platform,and perfect the system of qualified investors and financiers,improving Information Disclosure Requirement.Finally,I suggest introducing the risk fund system.