Study Legal Risk Analysis And System Consummation Of Equity-based Crowdfunding

In recent years,Internet finance has become the hottest topic in China’s economic field.From financial Internet to Internet finance,crowdfunding is becoming an important force driving the change of capital market.Equity crowdfunding is a new type of equity financing model based on Internet platform,which has the characteristics of "small amount" and"multi-quantity".Through Internet technology,equity crowdfunding simplifies the financing process,reduces the information transmission cost and capital payment cost between financiers and investors,and improves the financing efficiency.Therefore,equity crowdfunding has developed rapidly and has become one of the most attractive financing modes in China’s capital market.Equity crowdfunding solves the problem of financing difficulty of some enterprises and raises the direct financing ratio,which is crucial to the service real economy.However,equity-based crowdfunding is a new business,and it is still in the preliminary stage of exploration without breaking the institutional barriers,so it lacks the legitimacy foundation.In order to better serve our country’s economic development,it is necessary for us to study deeply,solve its legal difficulties,and put forward a perfect legal regulation proposal for equity crowdfunding.We will promote the development process of crowdfunding in China and establish a distinctive and dynamic multi-level capital market system in China.Besides the introduction and conclusion,the article mainly includes four chapters:The first chapter,the author introduces the development of equity crowdfunding in China.Firstly,the author sorts out the policy development of equity crowdfunding.Secondly,the author analyzed the development and rules of "Internet non-public equity financing platform"and "public small equity crowdfunding platform".Finally,the author introduces the risk type of equity crowdfunding.The second chapter,the author introduces the legal risk and cause analysis of equity crowdfunding in China.This part is mainly from the securities law,company law,partnership enterprise law,criminal law and other legal aspects to conclude the legal issues of equity crowdfunding.The third chapter,the author summarizes and analyzes the legal regulation of American equity crowdfunding.This part firstly introduces the regulatory highlights in the American equity crowdfunding and small issue system.Through comparative analysis,it summarizes the experience of legal regulation of equity crowdfunding.The fourth chapter,the author puts forward some Suggestions to improve the legal system of equity crowdfunding in China,This part mainly responds to the legal issues raised by the secondchapter of the text.On the basis of the mature experience of other countries for reference,combining the situation of financial markets in China,from small issue immunity system,qualified investors system,information disclosure system and so on various aspects of legal advice,the author hopes to improve the development of China’s equity and the help of its supervision legislation.