【作者】 崔萌；

【导师】 赵金龙； 刘永志；

【作者基本信息】 河北大学 ， 法律， 2015， 硕士

【摘要】 随着新三板市场的建立、扩容和逐步繁荣,我国多层次资本市场也处于不断完善的过程之中,新三板市场作为一个年轻的市场拥有更多的活力,无论是做市商交易制度的引入,还是发行审核权利的下放都从新三板开始,新三板在我国证券制度改革的过程中发挥着试点作用。即为试点,资本市场转板制度的建立也将会从新三板开始,不论是舆论倾向还是具体制度的出台,都证实了这一点;与证券发行注册制改革相伴走入学者视野的公开主义立法理念,从信息披露制度原理方面为新三板转板制度构建提供了理论基础;此外,证券市场监管模式变革迫在眉睫,新的模式下将发挥市场规律的作用,以企业、行业自律为主,以行政、司法事后监管为辅,为新三板转板制度的建立与健全提供了优质的制度土壤。本文以我国新三板转板法律制度为研究对象分四部分进行论述,第一部分从基本概念、分类、原则等方面介绍了新三板转板制度的基本问题;第二部分从宏观、微观两个层面论述了在我国建立、健全新三板市场转板制度的原因,并分析了目前新三板市场转板制度建立的契机;文章第三部分,从现行法律法规入手,分析了新三板市场与其他资本市场,主要是场内交易市场之间的区别,介绍了我国现行的转板制度;文章最后从解决转板制度的主要障碍和具体制度设计两个方面给出了建立、健全我国新三板市场转板法律制度的建议。本文力图构建出一个建立在公开主义立法理念下的相对完善的新三板市场转板法律制度,这一制度应当以证券发行注册制为前提,依赖信息披露制度的完善,充分相信市场,避免行政的过度监管与不适当保护。更多还原

【Abstract】 With the establishment, expanding, and gradually prosperous of the-new-three-panel market, multi-level capital market in China is in the process of continuously improving. As a young and more energetic market, the-new-three-panel market is the beginning of not only the introduction of market maker system, but the decentralization of the audit’s issuance. The-new-three-panel market plays the role of pilot in our country’s reform of stock system.Either public opinion or concrete system confirmed that the establishment of the-turning-plate system in capital market will start from the-new-three-panel market; accompanied with the reform of registered securities issue system, legislation idea for openism comes into the academic field, which provides a theoretical basis for the-new-three-panel market from the principle of information disclosure system; In addition, the new mode will play the law of the market while the changing for supervision mode of stock system is burning. The new mode will give priority to self-discipline for the enterprise and industry, and at the meantime, utilize administrative and judicial post-supervision as auxiliary. All of these will provide the high quality soil for the-new-three-panel market from establishment to strengthening.Taking the legal system of turning-plate in the-new-three-panel market as the research object, the first part of the article introduce the basic problems of the new mode from the basic concept, classification, and principle; The second part discusses the reason why china need establish and strengthen the new mode from both macro and micro aspects, and analyzes the opportunity to establish turning-plate system in the-new-three-panel market; In the third part, the paper analyzes the-new-three-panel market and other capital market from the current laws and regulations, particularly focuses on the differences among the trading markets. And in this part it still introduces the current turning-plate system; At last but not least, the paper give advices about establishment and strengthening the legal system of turning-plate in the-new-three-panel market from both how-to-solve the main impediment side and the concrete system design.This paper tries to build the turning-plate system in the-new-three-panel market based on the openism legislation idea. The new mode will be on the premise of registered securities issue system, rely on the perfection of information disclosure system, fully believe the market, avoid the excessive administrative regulation and improper protection.更多还原