Research On Legal Regulation Of False Financial Reporting By Listed Companies

From the false financial reports of Hailianxun,to the international financial fraud of Yabaite at the end of 2017,false financial reports of Listed Companies in China emerge in an endless stream.This seriously destroys the order of the securities market and damages the confidence of investors.There are many reasons for this,including the weakness of punishment,unsound accountability and the lack of independence of securities service institutions.So,improving the relevant laws and strengthening legal regulation is an urgent requirement to ensure the real and legitimate financial reports,maintain the order of the market and protect the interests of investors.The legal regulation of the financial reports of the listed companies in theme of this paper,including: firstly,through the case of a major asset reorganization between two companies named Anzhong and Jiuhao to find the lack of legal regulation of false financial reports in our country;secondly,introducing the overview about financial reports,including the definition of them,the definition,causes and detriment of the false financial reports;and then,basing on the analysis of financial reports of China’s legislative situation,finding out the deficiency of the legislation in our country;finally,combining with the relevant experience from America and the actual situation of China,putting forward suggestions to improve legal regulation,including strengthening the disclosure obligations,improving accountability,improving services independence.