我国股权众筹领投融资法律风险防范制度研究  

Research of Risk Prevention System of Traction Investment of Equity Crowd-funding in China

作　　者：马其家[1] 樊富强[1] 

机构地区：[1]对外经济贸易大学,北京100029

出　　处：《河北法学》2016年第9期28-36,共9页Hebei Law Science

基　　金：2012年国家社会科学基金一般项目<我国国际板证券发行监管制度的构建研究>(12BFX135)研究成果

摘　　要：领投是指股权众筹中,专业投资者作为领投人,深入考察融资项目,带动跟投人投资的制度。该制度对实现金融公平和金融大众化具有很强的推动作用。但由于我国缺乏相关监管规则,股权众筹在快速发展之时,领投融资乱象跌出,风险巨大。我国股权众筹领投制度的设计,首先应明确股权众筹平台作为信息中介的性质,理顺股权众筹各方主体的法律关系。然后规定领投人的权利义务、平台对领投人的审核标准,以及跟投人的权利保障机制。如此,才能化解股权众筹领投融资中的各种风险,保护跟投者的利益。Traction investment system means （a） professional investor （s） as the tractional investor（s） investigate（s） the financing project and head（s） following investors to invest in equity crowd-funding. Traction investment system has great promotion for financial fairness and financial popularization. However, because of lacking relative regulations, there are many financing messes and risks in traction investment with the rapid development of equity crowd-funding in China. Firstly, China should clear the nature of the equity crowd-funding platform is just an information intermediary institution and rationalize the legal relationships of all subjects in traction investment system. Secondly, China should regulate the rights and duties and prescribe the auditing standards of tractional investors; and set up following investors＂ rights guarantee mechanisms for preventing various risks.

关 键 词：股权众筹 领投机制 领投风险 跟投人保护 领投人义务 

分 类 号：F832.4[经济管理—金融学]