Registration System Under The Background Of Information Disclosure Of Listed Companiesand Regulatory System Research

Good macroeconomic development in our country, under the background of the securities market to stabilize, our government has explicitly IPO registration system’s commitment to reform. With administrative power in the process of IPO exit, establish a scientific and effective information disclosure of listed companies and securities market supervision system which is more effective to control risks and protect the interests of the broad masses of investors become a problem to be solved. Mandatory disclosure of information is the core of the registration system of the market, in addition to need to perfect the laws and regulations system as the foundation, scientific and effective supervision system is the guarantee of information disclosure of listed companies. This paper focuses on the information disclosure of listed companies in China securities market and regulatory system, according to the theory of case with a combination of explore our country securities market in terms of information disclosure and regulation system compared with the mature market registration system exists the larger gap, and the cause of the problem and improvement suggestion was analyzed. This paper is divided into four parts, the main content of the subject matter in the form of layers of progressive analysis, this paper tries to to improve the system of our country listed company information disclosure and regulation construction, more steady advance registration system reform to provide some guidance and help.In this paper, the main innovation point lies in through typical case examples. In terms of information disclosure of listed companies, this paper stocks listed on the Facebook prospectus case raises A shares compared with U.S. stocks listed company prospectus, intuitive to see the quality of information disclosure in our country and the gap between mature market registration system. In supervision system, this paper focuses on the present situation of the listed companies in China illegal cost is low, zhuhai bo yuan investment co., LTD. For information disclosure illegal events that were forced to retreat city by the investor’s attention, also let people see the development of Chinese securities market regulation has become increasingly strict and standard, but the listed company in our country there are still a whole "difficult delisting, illegal low cost". This article selects Facebook prospectus compared with a-share listing prospectus, and bo yuan investment delisting case and puda coal in the case of stocks retreat city, this paper compares and analyzes the conclusion more objective and accurate, the practice of the securities market in China also have stronger guiding significance.