Studies On Supervision Countermeasure For The Sponsor Representatives Of China’s Capital Market

With the development of China’s capital markets, the issuance system is also changed constantly. Studying the foreign system of sponsor representatives, combined with the condition of China’s capital markets, we established the current sponsorship system in this process. It introduces the mentoring period for IPO and the continuous supervision for listed companies by the sponsor institutions, and increases the sponsor’s responsibilities for the motherboard IPO, merger and acquisition activities, refinancing, etc. This approach builds an additional barrier to the supervision. Meanwhile, it brings some new supervisory issues.This article, which is based on the research about the consequences coming from the sponsor supervision system and other current active systems, summarizes the problems in the current access system, rewards and punishments system, and supervision and evaluation system of the sponsors. After comparing with similar markets abroad, referring the latest research findings of the career management theory, and planning the career management of sponsors, this article looks into current systems from the career management angle perspective, and establishes supervision system for sponsors, and analyze the feasibility of the system. In the aspect of the career path, this article raises suggestions of career path specification, hierarchical management, and self-discipline; in the aspect of the rewards and punishments system, this article raises suggestions of enforcing positive incentive and negative penalization; in the aspect of supervision and evaluation system, this article raises suggestions of improve the supervision system and the evaluation system, respectively.