美国JOBS法案对我国众筹模式的启示-法学专业毕业论文.docxVIP

I I 摘要 摘要 众筹是互联网金融中的重要模式，是项目发起人在互联网平台发布创业项 目信息，吸引网友为该项目筹集资金的融资方式。在中国，存在金融严格管制 和中小微企业融资不易之形势里，众筹能够变成化解上述法人与相关具体方案 融资之有利渠道。但是，实物回报类众筹模式和股权回报类众筹模式在中国均 面临巨大政策与法律风险，使其在中国的发展裹足不前。中国监管机构应及时 调整对待民间融资的固有思维，出台便利中小微企业融资和投资者利益保护的 规则和监管机制，这是中国在金融领域赶上欧美等发达国家的重要机会。 相对于第三方支付，网络理财 P2P 等业务模式，众筹融资从更深层次改变 了传统的金融筹融资模式，也带来比较多的问题。2012 年 4 月 5 日，美国总统 奥巴马正式签署了 JOBS 法案，该法案改变了金融危机后《多德弗兰克法案》所 营造的严格监管环境，通过适当放松管制，来促进小型公司与资本市场的对接， 为小型公司的发展提供了支持和条件。文章将具体介绍 JOBS 法案中关于众筹融 资的内容，并在评析我国现有众筹融资模式的基础上，对当下我国规范众筹融 资发展提出建议。 关键词：JOBS 法案 众筹 法律风险 II II 华侨大学硕士学位论文 PAGE PAGE VI Abstract Abstract Crowdfunding is an important mode among Internet financial, which is held by the project sponsors. They release entrepreneurial project information, through Internet platform. For the sake of financing, they attract netizens’ attention to raise for money the financing way to raise money for the project. In China, under the background, which is strict surveillance in financial sphere, it is costly and difficulty for Micro, Small and Medium enterprises to finance. Crowdfunding is expected to become the vital pattern to solve these enterprises and venture project financing. However, entity rewards pattern of crowdfunding the raise pattern and equity returns of it in China are facing huge policy and legal risks, which leads to the lack of development in China. Chinese regulators should adjust to the folk financing inherent thinking model, establish rules and regulatory mechanism to make it convenient for Micro, Small and Medium enterprises financing and investors interests protection. That is, an important opportunity for China to catch up with Europe and the United States and other developed countries in the financial sector. Relative to P2P network finance, the third-party payment business and some other models, and suggests from deeper changed the traditional mode of financial suggests, also bring more problems. On April 5, 2012, President Obama signed the JOBS Acts, the act through appropriate deregulation, consummate