Measures To Protect The Rights Of Small And Medium Shareholders In The Company’ Delisting

The number of small and medium shareholders in China’s securities market is huge,and it cannot be ignored.Protecting the rights of small and medium shareholders contributes to the stable development of the securities market.The new securities law,which came into effect on March 1,2020,provides a special chapter on investor protection,establishes a representative litigation system,and increases administrative penalties for securities violations.China’s delisting legal system has continued to develop,but when the company is delisted,the rights of small and medium shareholders still suffer.Based on this,the author takes the case study as the premise,leading to the existing problems of the protection of the rights of small and medium shareholders when company is delisting,and combined with the implementation of the new securities law,puts forward corresponding improvement measures.Theory is the basis of practice.This article takes the basic theory of delisting and the protection of the rights of small and medium shareholders as the starting point,introduces the concept of delisting in order,discusses the types of delisting,reviews the legislative development of the delisting system,and introduces the significance of the protection of small and medium shareholders,made the theoretical groundwork for the later.Then,based on the case,this article introduces the existing problems of protecting the rights of small and medium shareholders,including the failure of the company’s internal supervision mechanism,the lack of a securities supervision mechanism,and the imperfect civil liability of securities.The reasons for the problems are discussed in turn.Finally,this article puts forward corresponding improvement measures based on the existing problems of the company’s delisting.Reshaping the company’s internal supervision mechanism is a company’s internal governance measure,and improving the securities regulatory mechanism and improving the civil liability system for securities are external environmental constraints.