On The Legal Protection Of The Rights Of Equity Crowdfunding Investors In China

With the rapid development of Internet finance,equity-based crowdfunding,as an innovative move in this field,has become a new model to solve the financing difficulties of small and micro businesses.However,the gradually expanding industry demand leads to the gradual emergence of the drawbacks of equity-based crowdfunding.The information imbalance and financing fraud caused by the lagging legislation and imperfect current regulations begin to offset the new social benefits brought by equity-based crowdfunding.In order to maintain the activity of the equity-based crowdfunding system,laws outside the region put the protection of investors' rights in the first place,and it was not until 2014 that China promulgated the private equity crowdfunding financing management measures(trial)to regulate this investment behavior.Although a series of government meetings and policy documents have stipulated the access conditions,supervision methods and other contents of equity-based crowdfunding,the relevant provisions are too principled and some problems are still not addressed,which makes it difficult to deal with the increasingly complex equity-based crowdfunding disputes in practice.Therefore,it is urgent to improve the investor protection system and the crowdfunding supervision system.This paper uses comparative analysis and normative analysis to study the legal protection of the rights of equity-based crowdfunding investors in China.Based on the actual situation of the legal protection of the rights of equity-based crowdfunding investors,this paper makes an in-depth analysis of the problems faced by investors,and puts forward some Suggestions for improving the deficiencies of current legislation based on the advanced experience of legislation outside China.In addition to the introduction and conclusion,the full text mainly includes the following four parts::The first part is the basic theory of legal protection of the rights of equity-based crowdfunding investors.This part firstly defines the concept and characteristics of equity-based crowdfunding,and gives a preliminary discussion on equity-based crowdfunding and equity-based investor protection.Then,the identity attribute of equity-basedcrowdfunding investors is defined to provide a theoretical basis for the research and rights protection of equity-based crowdfunding.Finally,the civil legal relationship between the parties of equity-based crowdfunding is expounded,so as to clarify the rights and obligations of the three parties.The second part is the problems and causes of legal protection of investors' rights in equity-based crowdfunding in China.This part expounds the problems and causes of investment platform,financing party and investors.Theoretically,the reasons for the unfavorable investment position of equity-based crowdfunding investors are explained,which highlights the weak position of investors.The third part is the comparison and reference of foreign laws on the protection of investors' rights.This paper discusses the protection of investors by the United States,Germany,the United Kingdom and other countries in terms of access conditions,investment supervision,financial education and information disclosure.It provides the train of thought for perfecting the legal protection of investors and constructing a more comprehensive protection system.The fourth part is the Suggestions of perfecting the rights protection of equity-based crowdfunding investors in China.From the perspective of perfecting the rights protection system of equity-based crowdfunding investors in China,the author puts forward specific Suggestions.That is to standardize the access qualification of investors and crowdfunding platforms,establish information disclosure system and credit information sharing platform,form an efficient two-way channel for information flow,and provide information sources for risk analysis.Improve the supervision mechanism and require the financing platform to undertake the obligation of risk disclosure to investors;We will improve the rescue system for investors,form a multi-channel and multi-level rescue mechanism,and form a comprehensive protection system.