Compulsory Delisting And The Protection Of The Rights And Interests Of Medium And Small Investors

The development of the securities market can optimize the social resources better.The demanders of funds and the suppliers of funds are the boosters of their development,while the protection of the rights and interests of investors is the key stone of the successful development of the securities market.Europe and other developed countries,the stock market is to protect investors especially the protection of the rights and interests of small investors as the core,has developed a number of laws and regulations to safeguard the legitimate rights and interests of investors,and provide remedies for a wide range of investors.Because of the late start of China's securities market,there are many defects related to the operation mechanism and investor protection,so that the rights and interests of small and medium investors are often violated.At present,actively guide investors to establish a rational investment philosophy and a strong sense of risk,and improve relevant laws and regulations,in order to fundamentally promote the development of China's securities market.How to improve the interests of small and medium-sized investors in the process of forced delisting of listed companies,to reduce the risks of small and medium-sized investors and to protect their legitimate rights and interests from infringement is the problem that this paper should solve.This paper first describes the evolution process of the delisting system of Chinese listed companies,introduces the methods and conditions of delisting,and the relevant laws and regulations in the process of delisting system development.Next,it describes the general situation of delisting of Chinese listed companies and the protection measures of the rights and interests of small and medium-sized investors in delisting.Secondly,through a detailed description of the new regulations have a stock delisting*ST Bo Yuan delisting process,to illustrate the compulsory withdrawal in ST company,Bo Yuan small investors right,property rights and litigation rights suffered serious damage,small investors irreparable loss.Fully exposed the laws and regulations of China's protection of small and medium-sized investors are extremely imperfect,the government and regulatory oversight oversight and corporate governance of listed companies is not standardized.And the reasons for the above problems are analyzed in detail.Finally,analysis of the mandatory delisting ST Bo Yuan Company concluded the case should pay attention to the protection of small investors,to put forward the following suggestions: firstly we should strengthen the supervision;secondly,the listed company shall guarantee the authenticity and timeliness of information disclosure,more for small investors;finally small investors should have the financial knowledge and risk consciousness,ability must discern stock.