Research On The Legal Issues Of Investor Protection Under The IPO Registration System

The implementation of IPO registration system has the functions of changing the structure of Listed Companies in China's stock market,promoting the development of China's direct financing market,setting up wider investment channels for investors,increasing investment choices and maintaining stable development of China's securities market.However,under the registration system,the securities regulatory agencies no longer value the value of the issuing enterprises,so they need to be equipped with a sound investor rights protection system to maintain them.The main contents are:the strict information disclosure system,the good management system of investor's appropriateness,and the perfect IPO system of illegal civil liability.Although at present in our country from the revised "Securities Law",the Commission issued the relevant administrative regulations issued,the stock exchange and securities business institutions and other aspects of regulation for the implementation of the IPO registration system for the registration system,but the extended term of authorization from the February 2018 decision can be seen,the implementation of the registration system is not so smooth.The main reason is that there are still many problems in the protection of investors' rights and interests in China,which are mainly due to inadequate information disclosure system,incomplete investor management system and unscientific IPO civil liability system.Therefore,in order to steadily push forward the implementation of China's IPO registration system,resource allocation optimization model of market oriented,increase enterprise financing and investment choice,maintenance of our country securities investor's legitimate rights and interests,and promote the healthy development of China's securities market,in reference to implement the registration system of the United States,Japan and Taiwan China the interests of investors the protection system on the basis of the appeal from the three aspects of the problem,to protect the interests of investors in the current environment Chinese registration system reform,put forward the concrete legal system to protect the interests of investors of the relevant suggestions.