摘要
1.INTRODUCTION In the process of the development of Internet finance,while encouraging and protecting innovation,the State should also carefully control the risks contained in financial innovation.Furthermore,it shall be to set up the safe harbor for financial innovation and to draw the red line for regulation.Internet equity financing is a kind of securities issuance action,whose objects of issuance may be specific,or may not be specific.According to the provision of article 10 of the Securities Law, there is also the distinction between‘public offering’and‘private placement’. However,in the practice of the past few years,the nature of public offering and private placement of equity crowdfunding is generally not distinguished,and the mixed use of the expression‘equity crowdfunding’often appears.The confused judgment of Internet equity financing makes it difficult for regulatory authorities to carry out effective supervision,and there is much financial chaos,which directly damages the interests of investors.In order to change the status quo,various departments have continuously issued policies on Internet equity financing in recent years,and clarified the nature and scope of the two types of public offering and private placement under the Internet equity financing.
作者
Zhao Yin
赵吟(Civil and Commercial Law School of Southwest University of Political Science and Law)
基金
the phased achievement of Research on the Construction of Advance Compensation System in the Securities Market of 2018 National Law and Legal Theory Research Project(18SFB3026)
Research on Legal Regulation Path of the Robo Advisor sponsored by Artificial Intelligence Law Research Institute of Southwest University of Political Science and Law(2018-RGZN-JS-ZD-06).
