On Civil Liability For Misrepresentation In Securities

Misrepresentation of security market is gaining attention these days, and accumulated some practice either in textbooks or in legislation. Start with the provision 63 of 《the security market law》, the Supreme Court of China has made great progress toward anti-fraud effects. And some provisions were made to stop the fraud of security market. And some recent cases has shown a good trend of litigation. The article has a full description of "security fraud" and emphasized on some puzzling issues like "the causation of the fraud and damages", "the damages" and introduced those theory from the American courts. Firstly, the article fully described the basic concepts and theory of misrepresentation. Then it analyzed the legal nature of misrepresentation and get the conclusion that this is a new type of tort. To be more practically this thesis does not stay on theory only, the every rule is translated into a particular case. The writer has some particular research on a recent case named " YIN'GUANGXIA"and in this article was knitting with the theory of law. By law we have facts, and by facts we have law.