险资举牌引发的权益披露问题分析

An Analysis of the Disclosure of Equity Caused by Insurance Capital Placards

近年来,险资举牌现象引发市场高度关注。除了资金运用的规范性和流动性问题外,其核心问题涉及权益披露。与境外规则对比,目前我国在披露触发点的认定原则、受益所有权的确定、具体披露内容、问责等方面存在一定差异。随着各类并购交易的上升,新交易目的、方式的出现,本文结合当前对权益披露要求的监管挑战,试提出改进建议。

In recent years, the insurance capital placards the listed companies caused the market＇s high attention. In addition to the normative and liquidity issues, the core issue concerns the disclosure of equity. Compared with overseas rules, we have some differences in the principle of determining the trigger point of disclosure, determination of beneficial ownership, specific disclosure content and legal responsibility. With the rising of various types of M ＆ A transactions, the emergence of new trading purposes, methods, combined with current regulatory challenges to disclosure requirements, we provide some suggestions for improvement.