| In the information economy epoch, the rapid development of capital market makes information about the listed companies' economic activities arresting, and the information activities of the listed companies reveals more and more important effect to the securities market. Recently there were some financial scandals which resulted in tremendous losses. These make people survey the information disclosure regulations with more careful and sober attitude. The institution effect is protecting investor's interest. At the base of it, the paper analyses firstly system, property right, information attribution, the securities market which are basal with the information disclosure regulations. Then the paper analyses mostly the job flows of the information disclosure activities, and tables a proposal to the flaws of the system and system performance. |