Research On The Legal System Of Risk Prevention In Registration System Of The Science And Technology Board

The newly revised securities law was agreed to enforce the registration system clearly and comprehensively on December 28^th2019.Before that decision,the Science and Technology Innovation Board established and run a registration system.It can be seen that the Science and Technology Innovation Board is a"test field",which services for the capital market reform in China.Discovering risks during the implementation of the registration system and exploring the practical ways to carry out the registration system reform have a practical meaning for promoting the marketization and legalization of China’s capital market.China’s corporate listing rules has transformed from the approval system to the registration system,which makes the market facing many problems such as market adaptation issues and new risks.Based on judicial practice,this article systematically analyzes various risks in the implementation of the registration system from the perspective of case study.At the same time,it studies China’s current legal system,designed for risk prevention,and points out some legal inadequacies.In response to these problems,it has explored the legal system related to the risk prevention of extraterritorial registration systems.Drawing on the experience of developed securities trading markets,the paper gives some suggestions from the perspective of information disclosure system,exchange self-regulatory system,and investor justice relief system.From a practical point of view,the research in this paper is dedicated to remove obstacles in legal system for the smooth implementation of China’s current registration system reform and the construction China’s capital market legal system.