Dissertation > Excellent graduate degree dissertation topics show

Securities Law Issues False Statement

Author: PanYanFeng
Tutor: ShenSiBao
School: University of Foreign Trade and Economic
Course: International Law
Keywords: False statements Securities Law Research Misrepresentation The main responsibility Civil liability Administrative responsibility Public investors Relationship of trust Liability
CLC: D912.28
Type: Master's thesis
Year: 2000
Downloads: 293
Quote: 0
Read: Download Dissertation

Abstract

False statements on securities law in direct violation of mandatory disclosure of the modern stock market's core system is \Countries in the world with the securities regulatory norms is an important purpose and effect is to ensure market stability, orderly and efficient, to provide investors with a good investment environment. In order to make stock market safe, stable and orderly functioning, the most effective way is to build a comprehensive, continuous mandatory information disclosure system, requires issuers of securities in the issue of securities, the securities regulatory authority, and must be investors to disclose their business situation, financial position and other relevant critical situation and continue after the listing of its securities disclosures to enable investors to obtain sufficient information to make the right investment decisions. \criminally responsible. In order to cultivate and improve the operation of the market mechanism itself, enhance investor understanding and confidence in the market, in order to achieve the purpose of protecting investors, the provisions relating to liability misrepresentation misrepresentation regulations will need to exist, and is also the world Government to regulate their securities, managing a common practice. This study focused on the framework of the Securities Act of securities-related false, misleading misrepresentation or omission of such depth and systematic exposition focuses on the nature of false statements, the basic form, the main responsibility, as well as the laws of misrepresentation liability and other issues. Text is divided into five chapters. The first chapter outlines discusses false statements relating to securities and securities law regime on the evolution of the concept of misrepresentation and classification. This paper argues that a false statement on the Securities Act refers to the issuance of securities, transaction, investors and state securities regulatory authorities bear accurate and full information disclosure or reporting obligations of the body (natural or legal), in the prospectus, the listed Announcement of public documents and other information on the securities activities of the facts, nature, prospects, legal matters such as making false, misleading statements or major omissions causing investors to know the truth make the wrong investment decisions offenses. The second chapter discusses the nature of false statements. Misrepresentation in essence is primarily a tort, in severe cases, its harmfulness and constitute a criminal offense, it violated securities laws is mandatory information disclosure system, the direct consequence is a violation of the public's right to know and property investors . Therefore, it is necessary to monitor this, so that misrepresentation bear corresponding civil, administrative and criminal liability. False statements on securities law regime aims to protect investors in the securities market information disclosure system and the legitimate rights and interests. Chapter III discusses in detail the basic form of misrepresentation. They mainly include: untrue statement, omission, or misleading statements and error prediction. This paper describes these four basic forms them, and cited cases into lt; WP = 4 gt; OK specific analysis and comparison. The fourth chapter discusses the main responsibility for misrepresentation. This article describes the United States, Japan, Taiwan and other countries (regions) the enactment of legislation to proceed, the main responsibility comes down to four categories: issuers and sponsors; directors, senior management and company staff; securities underwriter; accountants, lawyers and other professionals personnel and organizations. Then each of these four categories of subject and they should bear the responsibility for each analysis and comparison, and accompanied by detailed discussion of cases. Chapter V discusses the misrepresentation liability. This paper argues that not all of the disclosure of information constitutes a misrepresentation misrepresentation on the Securities Act, and only for important content of untrue, omissions, errors or misleading statements and projections in order to constitute a false statement on the Securities Act. \Misrepresentations should bear the main responsibility in addition to the appropriate administrative or criminal responsibility to other, more important is to bear certain civil liability, compensation of losses to investors in order to achieve the purpose. Civil Responsibility misrepresentation, there are two main principles: For the issuer applies the principle of liability without fault attributable to the issuer's principal defense to victims (mainly investors) knowingly (or intentional). Issuer other than the main responsibility for the principle of fault liability, the burden of proof on the applicable presumption of fault, if the body can prove that false statements have done to their duties, knowledge, skills, considerable \. Elements responsibility misrepresentation behavior and damage to the facts in the causal relationship between the establishment of trust in the relationship between legal presumption to meet. Investors to prove the damage and its investment misrepresentations assumes positive causal relationship between the burden of proof. Making a false statement if the perpetrator does not prove the existence of a relationship of trust overturned, then a relationship of trust by a legal presumption of the existence of the misrepresentations and sufficient to establish a causal relationship between damage to the facts. False representation system in Western countries has been more mature Securities Act, the Securities Act for misrepresentation of the provisions do not quite complete misrepresentation of the main provisions of the administrative responsibility and criminal liability, civil liability for misrepresentation provisions is not yet perfect. Focus on administrative responsibilities in legislation and criminal liability is undoubtedly necessary, but they are, after all, is the responsibility of public law, the victim (mainly public investors) to restore the property and equity compensation, there is no substantive significance. And, December 29, 1998 announced the \Its content is still bold aesthetic requirements, the lack of a more detailed operational specifications. At present, China's jurisprudence on the securities law misrepresentation system (in particular its civil liability) comparative research is still relatively scarce. I hope this discussion can be on China's securities laws contribute to the field of theoretical research on China's securities laws and regulatory practices help.

Securities Law Issues False Statement

Abstract

Related Dissertations