我国众筹融资平台持续督导制度构建——基于平台法律定位视角  

The Construction of Continuing Supervision System of Crowdfunding Platform in China from the Perspective of Legal Position

作　　者：肖函[1] XIAO Han(Wuhan University,Wuhan,Hubei430072,China)

机构地区：[1]武汉大学法学院,湖北武汉430072

出　　处：《中国流通经济》2017年第3期115-123,共9页China Business and Market

摘　　要：随着互联网金融的不断发展,众筹融资作为互联网金融创新的代表,以网络平台为媒介,以创新金融为载体,打破了传统融资地域窄、时间长、风险集中的壁垒,为我国初创及中小微企业融资提供了新途径,为投资者开辟了新渠道。然而,由于目前我国相关法律规范严重缺位,众筹融资领域融资者欺诈、平台跑路等现象屡见不鲜。为有效缓解投资人信息不对称状况,规范融资企业经营管理,确保众筹融资项目顺利完成,保护投资者权益,推动众筹平台良性竞争,众筹平台作为众筹融资的核心枢纽,必须加强持续督导制度建设,在项目发起阶段,优化项目筛选机制,落实对融资方信息的基本审核;在项目筹资阶段,强化信息披露,严格项目与平台资金的隔离;在项目筹资成功后的管理阶段,加强融资方信息的持续披露,保障投资者权益。With the continuous development of e-finance,taking internet as the media and innovative finance as the carrier,crowdfunding,as the new representative of e-finance innovation,breakthroughs the barriers in traditional financing,such as the narrow territory,the long time of period,and the centralized risk,and provides a new way to solve the financing problems for start-ups and SMEs;it also provides the investors with a new investment channel. However,because of the lack of related laws and regulations,there are so many cheating problems with this industry. To effectively solve the problem of information asymmetry and standardize the operation and management of related enterprises,we should strengthen the construction of continuing supervision system. At the staring up stage of project,we should optimize the screening mechanism;at the stage of financing,we should strengthen information disclosure,and separate project capital from platform capital;and at the stage of after-financing,we should strengthen the continuing information disclosure and guarantee the investors’right.

关 键 词：众筹融资平台 法律定位 持续督导 

分 类 号：F832.39[经济管理—金融学]