On Misrepresentation In Securities Of Tort Damages

The civil liability and remedy for securities misrepresentation play an important part in protecting the lawful rights and interests of investors. The term "securities misrepresentation" in this dissertation includes the following behaviors in the activities of securities issuing and trading: false account, significant omission and misguiding statement.Based on analyzing the rule of civil liability and remedy for misrepresentation of developed countries' stock markets, the research designs the framework and rule of tort liability and compensation for damages caused by securities misrepresentation in china. This dissertation is divided into four chapters.Chapter 1 gives a legal review toward the significance of the civil liability for securities fraud by discussing its philosophical reasons and supervising functions.Chapter 2, centering on the particularity of securities misrepresentation in the following aspects: categories, natures, litigants, causation, imputation principles and civil liability undertaking ways, etc, introduces systematically the basic theory of the civil compensation for tort damages caused by misrepresentation in stock markets, which forms the dissertation's theoretical foundation.Chapter 3,guided by the basic theory of civil compensation for misrepresentation tort damages, deals with those who have caused damageto investors and shall be liable to pay compensation, including the issuer, the underwriter, directors and certified accountants for the wrong committed by them.Chapter 4 undertakes a review of legislative and judicial practice of the civil liability and remedy for securities misrepresentation in china, and especially examines the rule barriers toward the civil litigation system in china. Furthermore, it provides legislative recommendations and systematic designs of civil liability and remedy for Chinese securities market in order to establish a sound mechanism to prohibit securities misrepresentation. Finally, several suggestions are submitted as the possible solutions.