论我国私募信息披露制度的完善  

On Information Disclosure Requirement Perfection of Private Placement in Our Country

作　　者：梁清华[1] 

机构地区：[1]对外经济贸易大学法学院

出　　处：《中国法学》2014年第5期149-159,共11页China Legal Science

基　　金：2013年度国家法治与法学理论研究项目"我国私募基金法律制度的构建研究"(项目批准号:13SFB2034)阶段性成果

摘　　要：我国目前的私募信息披露制度存在诸多缺陷,最严重的问题是对投资者保护制度的缺失。为保护投资者,立法上需要完善我国私募信息披露制度。美国是世界上私募信息披露制度尤其是对私募投资者保护较为完善的国家,其有益经验可以为我们借鉴。在我国私募信息披露制度的建设上,立法的原则应当是在保护投资者与降低私募融资成本之间做到谨慎平衡的同时,更偏重于对投资者的保护。与此相适应,在理念上,应当以反欺诈为核心,突出民事责任的承担;在具体制度的构建上,应当建立私募区分信息披露制度,并在强制信息披露的基础上增加自愿信息披露内容。there are many drawbacks in our information disclosure requirement, and the most serious problem is the protection system lack for investors. In order to protect investors, we need to perfect our information disclosure requirement in legislation. America is the country which has relatively impeccable information disclosure requirement, especially for protection of private placement investors in the world. We can learn good experience from America. On the construction of our information disclosure requirement, the legislative principle should be that on base of balancing protecting investors and reducing private placement cost, we should prefer to protect investors. Corresponding to this, on theory, we should take anti-fraud as the core to strengthen civil liability undertaken; on the specific system construction, we should establish private placement distinguishing information disclosure requirement. On the base of forcing information disclosure, we should add the content of voluntary information disclosure.

关 键 词：私募信息披露 投资者保护 信息披露反欺诈 强制信息披露 自愿信息披露 

分 类 号：D922.287[政治法律—经济法学]