非上市股份公司股权登记的制度选择——以规范场外交易为视角

Equity Registration System Options of Unlisted Companies:From the Point of View to Regulate the OTC

股权登记制度是证券市场交易安全的基本保障。目前,我国《公司法》、《证券法》等法律规范对非上市股份公司股权登记制度的供给不足。为满足非上市股份公司股权流转的需要,应从场外交易市场的体系设计出发,确定全国性和区域性的非上市股份公司股权登记机构,并以直接登记模式进行集中登记,以此确保非上市股份公司股权流转的有序和安全。

System of equity registration is a basic safeguard to the security of stock exchange. At present, legal rules about equity registration of unlisted company is deficient in China. In order to match the demand of equity exchange of unlisted company and maintain the exchange order, we should build the national and regional registration organizations according to the market system of OTC. At the same time, system of direct and central registration should be established.