Civil Liability For False Statement Of Securities

After more than 10 years development, there are more than 70 million investors on the security market of our country, account for 1/20 of national total population. Nearly 1378 of total of listed company of the A-share, total market value is second only to the stock exchanges of Tokyo and Hong Kong in Asia. The fund raised, has supported the development of state-run large and medium-sized enterprise and other enterprise effectively through issuing stocks to the local and overseas places. This during the last ten years, China's securities market development and reform both made great progress, attract people's attention, the security market of our country is disposing social resources effectively and to the state-run large-and-middle-scale making and shareholding system transformation of enterprise-like corporation, promote the respects , such as socialist market- based process of economy ,etc. , has played irreplaceable important function . The constant development and expand of the security market , has also driven the fast development in a batch of relevant industries , such as financial assets and intermediary sevices ,etc. But should see , the security market of our country still belongs to the new developing market, is in the norm and transition period, some defects that should not be ignored exist in market norm and operating mechanism, the tort takes place occasionally too, all kinds of market subjects are not ripe enough , for instance, many natural persons of investment subject; The legitimate rights and interests to the investor , especially medium and small investor are protected and waited a moment incompletely. Legal system construction aspect, is it walk abreast legal system of civil liability of encroachment of right that store with criminal responsibility , administrative responsibility in to lack for a long time. The behavior infringed to investor's rights and interests happenning on the market is criminal and the administrative responsibility one is born, lack civil responsibility investigation. Investor because of property loss thatInfringement suffer, difficult to win civil compensation relieve. If things go on like this will injure investors' investment confidence greatly , will shake the foundation and develops of the security market, unfavorable to the development and growth of the socialist market economy of our country. In the steady development in order of security market, perfect every legal system and perfect market operating mechanism progressively , have already become task of top priority . Certainly, regardless of whether or not the security market is developed and ripe, the legal system is complete or not, emergence of the tort is all unavoidable. Even if encroaching right the legal system is being comparatively complete , American security market with comparatively ripe inherent mechanism of market, is it appear similar " An Yan incident" , " Shi Tong company " ,etc. conceal deficit and falsify profit dollar of great scandals to expose often too. To the unlawful practice appearing on the security market of our country , must strengthen supervision , should not merely investigate the actor's administration or criminal responsibility in accordance with the law , and the actor should be to be born corresponding civil compensation responsibility by its investor encroaching on itting.January 15 , 2002, the Supreme People's Court has issued ?the notice on accepting the security market and state the civil relevant questions of dispute case of encroachment of right caused falsly ? . Up until now , accept nearly 900 false to state about court actor bear civil compensation case of responsibility request already. However, investigate civil compensation responsibility in relevant securities torts at present of our country, in such aspects as affirmation , composition , regular principle , lost calculation of responsibility of the subject , principle very much that stipulate, or has not designed basically. And problem these to handle that the case must be solve. Just because of some above-mentioned questions and legislative flaws, prediction purpose of making these regulations not achieve or totally achieve legislators in the course of carrying out and implement, author of thistext combine one's own theory study and work experience of practice, state the civil liability summary from the securities falsly, the securities state the civil liability subject of the behavior falsly, the securities state the form falsly, state the asserting of civil liability falsly, the securities state the civil liability way falsly, the securities state the civil action falsly, and to how finally set up and amplify of our country security market false to state civil compensation system got some concrete countermeasure and thinking out of further. Expect to cast a brick to attract jade through this text, can cause people to how revise and it perfects to be false to state civil liability some thinking of laws and regulations of system about securities really, make it become one and protect investor's rights and interests conscientiously, the law generally supported by investors. Such a result is not only an author's expectation, but also expectation , the people's expectation , expectation of the security market legal construction of the society.