The Legal Issues Report Of IPO Equity On Behalf Of Holders

In this paper, the200companies listed on the2010IPO reporting period open aseries of legal documents such as the "Prospectus" lawyer work report "legal opinion"additional legal opinions "qualitative and quantitative analysis, summarized theSFC would have to be listed companies on behalf of the holders of the audit points, onthe basis of analysis of equity on behalf of the holders of the reasons and legal issues,summarize, make relevant comments and recommendations, in order to achieve thepurpose of the protection of listed companies, shareholders, investors and securitiesmarket.In recent years, companies applying for the IPO is increasing year by year, andvarious corporate mergers and acquisitions business between large increase in equityholding, transfer and frequent occurrence of equity on behalf of the holders of thephenomenon is widespread. As the regulatory authorities of the SFC for the existenceof equity on behalf of the holders of the companies is all clean-up, such a sweepingapproach is not desirable. Equity on behalf of the holders, as an alternative to directshareholding in the2011Law of Justice to explain the three has been recognized andprotected, but also legal and equity on behalf of the holders of the investment in theprivacy and flexibility more convenient to make a suitable investment optionarrangements. However, due to the Commission in approving the IPO project ofequity on behalf of the holders of listed companies to all requirements of cleanotherwise not be adopted by the attitude, resulting in many applications the IPOcompanies deal with improper IPO was whether.In fact, the equity on behalf of holders divided into commissioned holding trustholding ESOP Association on behalf of the holders of equity on behalf of the holdersof the forms of commercial bribery. Of the shares on behalf of the holders of theformer three cases is reasonable in the process of market economic development,acceptance and widespread use of the investors, shareholders and companies in threeareas, with the rationality of its existence. In accordance with law on behalf of theholders of the agreement, not conflict with the articles of association, not inconsistentwith the legal force norms coupled with timely disclosure, then, is not themanagement and supervision of securities markets, thereby causing damage. TheCommission should respect the freedom of choice of parties and companies. Equity on behalf of the holders of commercial bribery is emerging a new form ofbusiness corruption, is the company to be listed with the sponsor colluding to cheatthe behavior of the Listing Qualifications. Its existence, stability and transactionsecurity for the securities market constitutes a great deal of damage. Must closelyfollow the development of the market as the SFC of the securities market regulation,strict supervision of this behavior, focusing on punishment.