At present,the registration system of our country securities issuance has been imminent,the community is also looking forward to."Registration system" is a new system for our country to try,and need to continue to explore.But for the United States,which accounts for half of the global capital market,the registration system has been practiced for decades,Institutional arrangements have also been integrated with the domestic market demand,and developed into the most active and mature capital market,under the "registration system".Hence,this article hopes to analyze the path of the implementation of the registration system and its substantive content in the United States,for the implementation of China's registration system to guide,so as to find the market in line with the requirements of the registration system".This article mainly uses the comparative research method,through comparing the two countries securities market supervision system,to know the two countries stock market of the same sex,for the following comparison between China and the United States listing Corporation to do the theoretical groundwork;Then,through the comparison of the current situation of China and the United States listing Corporation,to analysis the power of information disclosure;Through the interpretation of the "double registration system" of the United States to understand the true meaning of the registration system of the United states.In a word,,it still needs a strong regulatory system under the registration system.Securities Regulatory Commission need to change the real examination in advance of the protagonist positioning.When the Commission retreat,local government,stock exchange and intermediary organizations need to use their information and professional advantage to fill the gap.To strengthen the power and law enforcement of the Commission,and further coordinate local governments,stock exchanges and intermediary service organizations the scope of responsibilities and the corresponding responsibility in the stock issue examination phase. |