A Study On The Protection System Of Investors In China

The use of the Internet platform as a medium for the start-up enterprises and small enterprises in the public investors to raise funds to provide a new channel,which is to stimulate the socialist market economy and the establishment of multi-level capital market is of great significance.As an important participant in the capital market,the protection of investors is not only related to the sustained and healthy development of the equity,but also to the stability of the socialist capital market.However,China's equity development and development in Europe and the United States is still in the initial stage,the equity system of the relevant legal system is not perfect,the protection mechanism is not perfect,investors involved in equity all facing enormous risks.It is imperative to build a legal mechanism for the protection of equity investors.The first chapter of this article from the equity of the summary of the start,first of all what is the legal equity to explain.According to the "Guidance on Promoting the Healthy Development of Internet Finance" released in July 2015,the equity participation means that the financing of the business or project information that the company has prepared or has been created with the help of the public on the Internet.,To attract investors to join,and in the form of equity feedback investors financing model.Secondly,through the analysis of the concept of the characteristics of the ownership of all.The main features of the equity include: the Internet platform as the medium of financial activities;the main target for the start-up enterprises and small micro-enterprises;ordinary public investors to participate.Again,according to the ownership of the main body of the analysis of the legal relationship.In addition,according to the "Securities Law" on the public offering of public offering and for non-specific object of the standard,the ownership of the legal nature of the public offering for the public offering.Lay the foundation for the protection of equity investors.Finally,it introduces the theoretical basis of investor protection.The second chapter of this article describes the status of China's equity investors and the existing problems.At present,China's equity investors to protect the laws andregulations are not perfect,the protection system is not perfect,the lack of equity investors,financing,public platform for the rights and obligations of the clear provisions.The third chapter of this article is for the problems in the previous chapters to introduce foreign equity ownership of the development of relatively mature countries of the equity investors to protect the experience.The first is the investor rules.Including: the United States in accordance with the annual income and net income of investors to participate in equity restrictions on the rules;the United Kingdom is based on the degree of risk awareness of investors to investors on the classification of restrictions on the requirements of the equity market platform to provide investors with restrictions on the category Corresponding investment projects.Italy has adopted our more mature leadership rules.Followed by the introduction of investor rules.Foreign financing rules include: restrictions on financing in specific industries;restrictions on the amount of financing;mandatory implementation of appropriate information disclosure obligations.Finally,we introduce the rules of the platform.Including: investors appropriate management obligations,requiring the Internet platform based on investor investment and investment experience to match the investment projects,the appropriate investors to buy suitable products;the establishment of third-party investment funds hosting obligations,reduce investor fraud and funds Pool risk and so onThe fourth chapter is about the legal advice on the protection of equity investors in China.Combined with the experience of the development of domestic equity and the protection of foreign investors to protect the legislative practice,put forward our country in the face of equity investors to protect the problem should be how to do.First,to establish a small stakeholder approval system.Second,establish the rules of qualified investors.The use of qualified investors to establish the quota of qualified investors.Third,the establishment of equity financing rules,including: the financing industry restrictions,the scale of financing restrictions,strengthen the obligation of information disclosure.Fourth,to establish the rules of the platform,including: the implementation of qualified investors appropriate management obligations;theestablishment of the Internet platform on the ownership of funds third party trusteeship system.Fifth,improve the ownership of the relief system.As the law stipulates that the exercise of the litigation rights protected by investors in China should wait for a variety of pre-procedures,leading to legal relief difficulties,it is proposed to establish a stock dispute mechanism to reduce the investor's litigation burden.