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A Study on Legal regulation of stock crowdfunding platform

  • Journal of International Business Transactions Law
  • Abbr : IBT
  • 2017, (19), pp.43-67
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law > Private Law > International Commercial Transactions Law

沈萍 1 胡光志 1

1中国西南政法大学

Candidate

ABSTRACT

In recent Internet financing, equity-based crowd-funding has surged as a very new concept and model, which provides a more efficient and effective financing channel for start-ups and ordinary investors and triggers the attention of all sectors of society. However, under the premise of “Securities Act” and other relevant financial laws and regulations are not modified, the operation of equity-based crowd-funding must be with“illegal” color. Therefore, based on angel, certification, and membership operation model, equity-based crowd-funding platform operates with a combination of limited partnership and related investment restrictions and other measures. However, equity-based crowd-funding platform is still facing the operation risk of incompletedue diligence and false propaganda, as well as legal dilemma of disunitedstandardson information disclosure and imperfect audit and supervision. This thesisfirst proposes legal regulation based on the analysis of the regulatory system defects of equity-based crowd-funding platform,so as to promote the healthy development of equity-based crowd-funding.

Citation status

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