The Legal Risks Of The Operation Of Equity Crowdfunding In My Country And Perfect Regulations

Equity crowdfunding is a financial financing method that China currently strongly advocates.From the perspective of existing policies,the definition of equity crowdfunding has been clearly defined as public equity equity crowdfunding.However,what are the characteristics of the operation of equity crowdfunding in the current practice?It has always been one of the controversial issues in the academic world.Equity crowdfunding has the characteristics of being open,small,and popular.This characteristic also determines that it is one of the important means for financing small and micro enterprises and start-ups.After the equity crowdfunding experience has gone through foreign practice,it has developed into an important financing method for all countries and has made important contributions to the economies of various countries.China has gradually accepted this new form of financing,and in 2015,equity crowdfunding has grown significantly in the first year.Since then,it has been increasingly welcomed by domestic investors.Many equity crowdfunding platforms have sprung up after the rain and the industry has a strong momentum of development.However,this kind of financing method that matures gradually in foreign countries is currently facing a situation of being stalled in China.Due to the incomplete existing supporting laws and the lack of supervision,it experienced a major industrial cleanup in 2016,resulting in Equity crowdfunding industry can not let go of their own hands,kicked up their sleeves and vigorously develop,which requires the government to implement the relevant policies and regulations in this regard as soon as possible to protect the development of equity crowdfunding.In addition to the introduction and conclusion,this article is divided into four parts:The first part is an overview of equity crowdfunding.Explained how equity crowdfunding gradually emerged under the tide of Internet,rapidly developed into an important financing method,and analyzed the economic principles that equity crowdfunding can stand out from among many new financing methods.Through a discussion of the academic community's understanding of equity crowdfunding and combining the various policy information that the government has released at present in China,we will give a clear explanation of the legal nature of equity crowdfunding in China.The second part is the legal risk of equity crowdfunding.Analyze the legal risks in the process of equity crowdfunding operations,such as the legal status of the equity crowdfunding platform in China,the obscure rights and obligations of the equity crowdfunding platform,and the risks involved in the process of equity crowdfunding activities,including the illegal issuance of securities,and illegal fundraising.The risks include the risk of investment contract fraud and other crimes.The third part compares extraterritorial related legislative experience,briefly describes the advantages of extraterritorial legislation,and combines the current status of equity crowdfunding development in China.The legalization of equity crowdfunding,investor protection,and obligations related to the equity crowdfunding platform are three.Problems in the aspects are analyzed.The fourth part is the proposal for the perfect construction of the equity crowdfunding operation in China.This section,combined with the inspiration from the extraterritorial legislation,starts with the incompleteness of the legal rules in the process of equity crowdfunding operations in China and the defects in related transaction systems,and puts forward suggestions for improving the construction,such as the establishment of investment protection for investors.The risk reserve system,project valuation system,investor cooling-off period system and internal resolution mechanism for platform disputes,the mandatory information disclosure system for equity crowdfunding platforms and the establishment of a negative list system,and the conditions for redefining the public offering of shares from the legal level A Prudent Consideration of "Illegal Fundraising" Crime and Non-crime.For the development of the industry,it is possible to combine management with the current multi-plate market.