An Exploration Of The Legal Issues Of Information Disclosure In The New Third Board Market

New three board market information disclosure refers to the listed companies on the stock transfer system of small and medium-sized enterprises,in accordance with the laws and regulations and industry standards required by the rules,disclosure of important information related to listed companies operating performance.The disclosure of information is related to investors' investment returns,and it is a channel for investors to intuitively understand the operation of the company.As a link of commercial activities between listed companies and investors,the information disclosure system in the New Third Board market can alleviate the information asymmetry between listed companies and investors,which is of great significance to the healthy development of the New Third Board market and is worthy of in-depth study.The main body of the paper is divided into four parts.The first part discusses the independent market position of the New Third Board and the theoretical basis of information disclosure.The second part is a summary of the case of three typical cases and cases,summarized the focus,this paper summarized the four focus respectively,the main body of the new three board market information disclosure should be how to define new three board market,how should the content of the information disclosure rules,the new three board market information disclosure regulation subject should be how to define,the new three board market information disclosure violation of legal liability should be perfect;The third part analyzes the four case focuses one by one and discusses the results of the typed data of 154 cases.The fourth part is through the case analysis to improve the new Third Board information disclosure recommendations.In the study found that the new three board market information disclosure is not entirely to main board or the growth enterprise market information disclosure rules,the new three board market has its own market position,and is not a main board or the growth enterprise market of the accessory plate,also is not to enter the business market or motherboard market transition plate,an independent market position of the new three board market needs to accord with the characteristics of their own development information disclosure rules.