Listed Companies Disclose False Information Legal Liability Issues Research

Information regulation is one of the most fatal focus of the securities market, The market requires an effective information disclosure system in three areas:truthful, accurate and complete. In the regulation of infomation, the key role is the headstream of the infomation. In other words, the market governor need regulate and supervise the infomation disclosure of the public companies.Part I contains the financial and legal theories of infomation disclosure system. It introduces the reason, the significance, and the target of the Legal Liability System of misrepresentation.Part II is the frame of the Legal definition of misrepresentation.Part III introduces the whole legal responsibility system of the misstatement.Part IV summaries the existing theoretical disputation of the Legal Liability System of misrepresentation.Part V generalizes the disadvantage and defects of the regulation of the securities market in China.The last part draw a conclusion on the basis of the previous discussion and conbines the practical condition.