我国新三板市场转板法律制度研究

发布时间：2018-03-05 07:44

本文选题：新三板　切入点：证券市场　出处：《河北大学》2015年硕士论文　论文类型：学位论文

【摘要】：随着新三板市场的建立、扩容和逐步繁荣,我国多层次资本市场也处于不断完善的过程之中,新三板市场作为一个年轻的市场拥有更多的活力,无论是做市商交易制度的引入,还是发行审核权利的下放都从新三板开始,新三板在我国证券制度改革的过程中发挥着试点作用。即为试点,资本市场转板制度的建立也将会从新三板开始,不论是舆论倾向还是具体制度的出台,都证实了这一点;与证券发行注册制改革相伴走入学者视野的公开主义立法理念,从信息披露制度原理方面为新三板转板制度构建提供了理论基础;此外,证券市场监管模式变革迫在眉睫,新的模式下将发挥市场规律的作用,以企业、行业自律为主,以行政、司法事后监管为辅,为新三板转板制度的建立与健全提供了优质的制度土壤。本文以我国新三板转板法律制度为研究对象分四部分进行论述,第一部分从基本概念、分类、原则等方面介绍了新三板转板制度的基本问题;第二部分从宏观、微观两个层面论述了在我国建立、健全新三板市场转板制度的原因,并分析了目前新三板市场转板制度建立的契机;文章第三部分,从现行法律法规入手,分析了新三板市场与其他资本市场,主要是场内交易市场之间的区别,介绍了我国现行的转板制度;文章最后从解决转板制度的主要障碍和具体制度设计两个方面给出了建立、健全我国新三板市场转板法律制度的建议。本文力图构建出一个建立在公开主义立法理念下的相对完善的新三板市场转板法律制度,这一制度应当以证券发行注册制为前提,依赖信息披露制度的完善,充分相信市场,避免行政的过度监管与不适当保护。
[Abstract]:With the establishment, expansion and prosperity of the new third board market, our multi-level capital market is also in the process of continuous improvement. As a young market, the new third board market has more vitality, whether it is the introduction of the market maker trading system. Or the decentralization of the issuing and auditing authority starts with the new three boards, which are playing a pilot role in the process of the reform of China's securities system. That is, for the pilot, the establishment of the capital market conversion system will also begin with the new third board. Whether it is the tendency of public opinion or the introduction of specific systems, it has been confirmed that the public legislation concept, accompanied by the reform of the registration system of securities issuance, has entered the field of vision of scholars. The theory of information disclosure system provides a theoretical basis for the construction of the new three-board system, in addition, the reform of the securities market regulatory model is imminent, and the new model will play a role of market law, mainly enterprise and industry self-discipline. The administrative and judicial supervision after the event provides a high quality system soil for the establishment and improvement of the new three-board system. This paper discusses the legal system of the new three-board system in four parts, the first part of which is based on the basic concept. In the second part, the author discusses the reasons of establishing and perfecting the system of the new three boards in China from the macro and micro aspects, such as classification, principle and so on. The third part of the article, starting with the current laws and regulations, analyzes the difference between the new third board market and other capital markets, mainly the OTC market. This paper introduces the current system of turntable in our country, and at last, it gives the establishment of the system from two aspects: the main obstacle of solving the system and the design of concrete system. This paper tries to construct a relatively perfect legal system of the new third board market, which is based on the idea of open legislation, which should be based on the registration system of securities issuance. Rely on the perfection of information disclosure system, fully trust the market and avoid excessive supervision and improper protection of administration.
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.287

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