On The Legal Risks And Regulation Of Equity Crowdfunding In China

This article starts with the equity financing of Meiwei Media Network,which leads to the consideration of the legality of equity crowdfunding in China and the legal risks it may face.Since the current regulation of equity crowdfunding in China is relatively lagging behind,this paper confesses the status quo of equity crowdfunding in the extra-territorial and domestic legislation,and points out the existing regulations on the regulation of equity crowdfunding in China.For example,equity crowdfunding is not included in the adjustment object of the Securities Law,the standard of the specific object referred to by the securities law is not clear,and the irrationality of limiting equity crowdfunding to the form of private placement.From the perspective of equity crowdfunding financiers,crowdfunding platforms and investors,the legal risks faced by China's equity crowdfunding are pointed out.Then it analyzes the legal regulation of equity crowdfunding in the United States,Britain and Japan,compares the regulations of the three countries,draws on their experience of crowdfunding regulation,and combines the actual situation in China,respectively,on equity crowdfunding itself,financiers,crowdfunding platform.From the perspective of investors,it proposes legal regulation recommendations for equity crowdfunding in China,such as the micro-exempt system,information disclosure obligations and investor withdrawal mechanism.