A Study On The Supervision Of Information Disclosure System Of Equity-based Crowdfunding In China

As the Internet industry is penetrating into the traditional industry continuously,internet finance is emerging.As an emerging Internet financing method,equity-based crowdfunding covers a wide range.However,one of the fundamental reasons for the chaotic development process of equity-based crowdfunding is the lack of information disclosure system.The obligation of information disclosure is not only fulfilled by the equity-based crowdfunding platforms and financiers,but it is necessary to intervene in external supervision to strengthen and guarantee the normative operation of equity-based crowdfunding,protect the interests of investors,and promote the healthy and long-term development of equity-based crowdfunding.This paper is divided into five chapters,including introduction and summary prospect.The first chapter mainly introduces the theoretical basis and legal relationship related to equity-based crowdfunding,and then analyzes the necessity of the construction and improvement of information disclosure system.The second chapter makes a comparative analysis of the three early developing equity-based crowdfunding platforms to elaborate the problems existing in the information disclosure of equity-based crowdfunding.The last chapter,aiming at the problems pointed out in the second chapter,puts forward some measures to improve the construction of equity-based crowdfunding information disclosure system from the aspects of obligation provision,liability recognition and the relatively sound information disclosure system referring to traditional securities issuance.This paper roughly describes the Suggestions for improving the information disclosure system of equity-based crowdfunding platforms from the aspects of the provisions on the information disclosure obligation of equity-based crowdfunding platforms,the identification and attribution of responsibilities,and finally from the financing stage and the post-investment management stage.The innovation of this paper is reflected in the bold research under the vacuum of the information disclosure system of equity-based crowdfunding.The information disclosure system is discussed and constructed in three dimensions.The disadvantage is that the system is blank,the previous research literature and data are scarce,and the article is biased to practice,and the theoretical basis of the system constructed is slightly weak,which needs further improvement and enrichment.