Research On The System Of Disclosure Of Information Of Securities

This paper'topic is《Research on the System of Disclosure of Information ofSecurities》, and the full paper is totally divided into 6 chapters. The ma in contentsare simply summa rized as follows now:Chapter 1:This chapter is divided into two sections, Section 1 ma inly describesthe concept, characteristic and etc. of securities and the information of securities, andexplicit that the disclosure of information for study in this paper ma inly aiming at thetrading of the shares issued by listed companies; Section 2 describes the system ofdisclosure of information of securities and introduces the ma in contents of disclosure.Chapter 2:This chapter is divided into three sections, Section 1 introduces thebackground and the theories foundation of the system of disclosure of information ofsecurities and Author recognize s that Asymmetric Information Theory should beadopted as the theories foundation of the system of disclosure of information ofsecurities; Section 2 describes the classifica tion of the system of disclosure ofinformation of securities , and ma inly describes the compulsive,voluntary andselective disclos ure of information; Section 3 elaborates the equilibrium of benefitsbetween listed companies and investors, such as the business secrets cannot bedisclose d, namely there are exception matters in the system of disclosure ofinformation. Chapter 3:This chapter is divided into two sections and ma inly emphasize s theprinciple of fair disclosure. Section 1 derivates the creation of fair disclosure, andma inly put forward the perfect lawmaking of fair disclosure isn't just made forselective disclosure, and it should also include other illega l or unreasonable behaviorsin the securities market; Section 2 particularizes the behaviors breaching the fairdisclosure of information in the securities market, namely the ma in ma nifestationabout the fair disclosure of information, and put forward some methods to regulatethese behaviors.Chapter 4:This chapter is divided into two sections, Section 1 give an outline ofthe civil responsibilities when breaching the system of disclosure of information ofsecurities, the Author thinks that the nature should be affirmed as the infringementresponsibility, and in its composing items, in addition to four composing items ofgenera l civil law principle, should also include the body of responsibility, and thispaper ma inly research es on the obligations of listed companies; Section 2 ma inlyelaborates the way to undertake the civil responsibilities when breaching thedisclosure of information, and Author think should adopt the united principle ofresponsibility, and analyzes the related responsibilities of compensation in the civilresponsibility, and think that this is a kind of lega l guara ntee obligation to the investors of the listed companies and so on.Chapter 5:This chapter is divided into two sections, is ma inly the suggestion byAuthor to perfect the system, Section 1 give the suggestion s to the administration andintroduces safe harbor rule and the la nguage in advance caution; Section 2 give thesuggestions of lawmaking, including the suggestions of perfecting the system of lawand the suggestion of crysta llize the principle of fair disclosure.Chapter 6:This chapter is a conclusion , and looks back the paper, and putforward the important mea ning of lawmaking and judica tory when build ing up thatsystem.