Study On Information Disclosure

The information disclosure system is established between investors and listed companies a bridge, this paper intends to ya Baxter backdoor listing information disclosure case to start to analyze the information disclosure system in practice problems and put forward a sound proposal.This paper is divided into four parts, the first part of the Yabaite backdoor listing describes the case of disclosure of information and facts summarized the focus of controversy, starting from the second part of the focus of controversy analyze information disclosure problems, the third part is to improve the information disclosure regime of Inspiration the fourth part is the conclusion.The first part of the case profile, a comprehensive introduction Basic profile Yabaite backdoor listing case of shell companies and backdoor company backdoor listing information disclosure of basic profiles and other content, and then summed up the case of the focus of controversy for the specific problem of information disclosure exists that a listed companies, intermediaries and the Commission, the presence of the respective laws and regulations related problems.The second part of information disclosure problem analysis, the focus of controversy from the start with a comprehensive analysis of Yabaite case information disclosure. Information subject to disclosure obligations, analyze contradictions comprehensive information disclosure obligations and elegant Baxter information disclosure among listed companies found that formalized internal control mechanisms and information disclosure is not timely, the content is untrue, inaccurate, incomplete issues there is no sufficient information to fulfill disclosure obligations. As can be seen from the agency disclosure of information services non-compliant behavior, there is a loss of independence, professionalism, impartiality, objectivity and professionalism of the agency staff is not strong, and many other issues intermediaries. As can be seen from the conduct of the regulatory Ya Baxter case information disclosure, there is the problem of lack of supervision the Commission. As can be seen from the level of laws and regulations, information disclosure complexity, confusion and other legal regulations.The third part is the case revelation, disclosure by case analysis of the problem, make recommendations to improve the information disclosure system. Disclosure of information on the subject is concerned, from the perfect corporate internal control mechanism, changing the concept of information disclosure both to improve the quality of information disclosure; the case of intermediaries, strengthen the supervision of intermediary agencies. SFC, the SFC to enhance supervision; the purposes of the legal system, improve the information disclosure legal system.The fourth part is the conclusion, a summary of this article.