Study On Right To Know Of Securities Trading

A securities investor is a foundation stone for the development of securities market. So the securities market should offer proper protection system fabric and specification system. The aim for the establishment of the securities law should be focused on the protection of the investor's right. Among securities investor's rights, the right to know of securities trading is very important. This is because in the process of securities trading, on the one hand, the investor's economic strength and their disparity in ability in the control of trading situation often makes them in weaker position of information symmetry, on the other hand, the abuse of trading data and incomplete disclosure or false statement of the information concerned will surely do harm to the investors. Therefore only when the investors have full and objective understanding of the trading information can they perform their right effectively, avoid the occurrence of spoiling investors'interests or give timely remedial measures if occurs so as to guarantee the expected benefits.The right to know of security trading is a kind of necessary and real right of security information which a security investor should enjoy and is obtained from the trader concerned on the basis of the investor's own decision. It's extension and evolution in security trading market. Such right has the law features of private property and right as a creditor. The conflict between the investors'insecurity trading choice and the listed company's goal, the contradiction between the equality in form and the social value in essence, and the opposition of profit maximization and risk running degree all show that the lack and loss of the right to know is serious and how to protect such right is absolutely necessary. The theoretic frame of the right to know in the business of security trading is expected to be built on the basis of confirming the right to know in security trading, listing the reason of why the small and medium-sized share holders, creditors or foundation holders have the such right to know, making clear the positive meaning that the independent director cherished for the public disclosure, getting into the in-sight specialities of public business information products and non-symmetry and enforcing the main body of the business, the task of public disclosure of the listed companies in particular. Only through confirming the investor's right to know, restoring the deprived right of the investors and making up for their loss, enhancing the complete disclosure of trading information, perfecting the civil responsibility system of the right to know and operating mechanism, can a protection...