Research On The Equity Crowdfunding Investors Appropriateness System In China

To encourage entrepreneurial innovation under the background of the raise,rapid development in our country,the financial sector.Stake in the emergence of the raise,not only to the start-up,small micro enterprise provides a more convenient financing channels,and provide investors with a profitable investment tools,is also the innovation in the development of China's financial sector.In order to encourage financial innovation and the development of the equity and the raise,legislative and regulatory level to stake the provides a comfortable environment,raise the raised platform but emerge in the breach appropriateness caused investors to suffer losses.Whether in equity and the raise development early America,Britain and other countries,still at groping stage in our country,the legislation is always seeking financing balance between efficiency and investor protection,in the context of our country's current rules,legislation clearly in favour of the all the raised platform and financing companies.In order to implement the legislative purpose of law in our country,reduce the investor's investment risk,protect the rights and interests of investors,it is necessary from the Angle of legislation,equity investors in the field of the raise appropriate system to improve and perfect,in order to effectively protect the interests of investors,maintaining the stability of the financial sector and promote the development of financial industry.Appropriate institutional investors is refers to the platform through the implementation of a series of measures to reduce the risk of investors,mainly include: the raised platform to understand investors' information,classifying investors,investment quota restrictions on investors,according to the investors' investment goals and requirements for investors to provide differentiated services.Equity and the raise is a high-risk investment tools,start-up,small micro enterprise financial system is not sound,in the industry competition faced losses and the high risk of bankruptcy,legislation has been relaxed on the financial sector regulation,all these factors have led to the stake to raise with high risk.In equity and the raise,investors will face a higher risk,so it is necessary to introduce appropriate institutional investors to reduce the investment risk of investors,to protect the interests of investorsStake in the raise appeared late in our country,but are extremely rapid development,and to raise the stakes in the law is in a blank state,also the lack of the appropriateness of investor protection system.To raise behavior from the Angle of law,equity and all the regulation and protection of the interests of investors,the securities industry association in China in 2014 promulgated the "measures for the management of all private equity suggests(trial)(draft)"(hereinafter referred to as "method(draft)"),the file of the show that raise the legitimacy of the shares to be confirmed,for the first time rules for equity investors in the field of the raise system of appropriateness.On the whole,however,the "method(draft)" there are a lot of shortcomings,on the regulation of system of appropriateness for investors slightly thin,and on the core content of rules are clear enough.According to the analysis about the equity in current laws and regulations and the raise,and in view of the problems in the laws and regulations,this article will from the investor's classification system,to provide differentiated service system and compulsory subject breach appropriateness and the pursuit of legal responsibility three aspects to analyze the current regulations and perfect.In investors classification system,the first to set the standard of classification,and then according to different types of investors investment quota restrictions.Based on the experience of the classification system of outside investors,according to the characteristics of the equity in our country the raise design investors classification system in China.In to investors to provide differentiated service,the raise investors need to know first information platform,and information management and analysis,for investors to provide differentiated services to investors.For breach appropriateness and have to bear the legal responsibility,mainly from the civil responsibility,administrative responsibility and criminal responsibility three aspects to analyze.Through the responsibility mechanism of the building,to urge the obligatory subject actively fulfill their obligation to its appropriateness and thus protect the interests of the investors,promote the development of equity and the raise.