Hold Shares Exercise Right Legal System Building In China

Protecting the legitimate rights and interests of small and medium-sized investors is the key to the orderly operation of the capital market.As a mechanism for protecting the interests of small and medium-sized investors with Chinese characteristics,shareholding exercise has been explored for more than two years.Practice has proved that the implementation of shareholding in the investment center is conducive to protecting the rights and interests of investors.However,with the deepening of practice,the exercise of shareholding rights has gradually exposed the problem of insufficient enforcement rights of the investment center,narrow scope of exercise rights and lack of effective supervision of shareholding exercise.The reason for these problems is that China's current shareholding exercise lacks legal support,and the complete legal system of shareholding exercise has not yet been formed.Therefore,in order to solve the problems faced by the current shareholding exercise,and provide legal basis and legal support for the practice of shareholding exercise,the construction of the legal system of shareholding exercise is imperative.Therefore,this paper starts from the theory of shareholding exercise,analyzes the status and existing problems of China's shareholding exercise,and draws on the successful experience of investor protection in other countries and regions,and proposes the countermeasures to establish a legal system of shareholding exercise.It is recommended to promote the implementation of China's shareholding exercise.This article is divided into five chapters for discussion.The first chapter is the introduction,expounds the research background and research significance of this paper,and gives a brief description of the theoretical research on the shareholding exercise mechanism and related investor protection rights at home and abroad,and clarifies the ideas and main research contents of this paper.The second chapter briefly discusses the basic theory of shareholding exercise.The shareholding exercise was redefined under the overall framework of investor protection.The basic characteristics and functional roles of shareholding exercise are analyzed.It expounds the theoretical basis for the implementation of shareholding exercise and provides theoretical support for the exercise of shareholdings.The third chapter first expounds the status of China's shareholding exercise,expounds the role orientation and legal nature of the shareholding center of the shareholding exercise,and the shareholding,exercise rights and different types of shareholding exercise at the current stage.Method of exercise.Then,from the status of holding stock exercise,the main problems of insufficient payment rights of the investment center,narrow scope of exercise rights and lack of effective supervision of shareholding rights are discussed,and the reasons for the problems are analyzed.It lies in the absence of the legal system of shareholding exercise and prepares for countermeasures in the following.The fourth chapter examines the similar investor protection mechanism in other countries and regions,analyzes the advantages and disadvantages of different investor protection models,and summarizes its successful experience to provide reference for solving many problems faced by China's current shareholding exercise.The fifth chapter attempts to construct a legal system of shareholding exercise to solve the problems faced by China's current shareholding exercise.Based on the successful experience of investor protection in other countries and regions,combined with the status of China's shareholding exercise,it is believed that the construction of the legal system of shareholding exercise should legally confirm the special shareholder status of the investment center;The scope of the exercise of shares will be extended to the listing of the NEEQ;it is also necessary to strengthen the supervision of shareholding exercise and improve the specific procedures for regulating the exercise of shareholding.It also puts forward suggestions on the design of the main content of the shareholding exercise system and the shareholding exercise system through the multi-level legal system of the Company Law,the Securities Law and relevant administrative regulations and departmental rules.