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On Judgments Of Misrepresentations In Forward-Looking Information Disclosure

Posted on:2015-07-10Degree:MasterType:Thesis
Country:ChinaCandidate:X H SunFull Text:PDF
GTID:2296330431484746Subject:Law
Abstract/Summary:PDF Full Text Request
Information disclosure is the foundation of the securities market, and the forward-looking information disclosure is its future direction. The forward-looking information disclosure is vital to enhance the efficiency of the securities market and help investors to make rational investment decision. However, there are a lot of deficiencies in the relevant provisions of the securities law, such as lack of scientific system and practicability, leading to the disorder of the forward-looking information in the securities market. Also, it’s difficult to curb the misrepresentation and protect the investor’s right due to the absence of judging standards and exemptions.Based on the present regulation situation of the forward-looking information disclosure, the essay focuses on the judging methods of the forward-looking information disclosure to build and perfect the forward-looking information disclosure system in the securities market in China. This essay puts forward the authenticity criterion which is based on the prediction foundation and prediction methods and the materiality criterion of infecting investor’s decision. Moreover, the essay researches on the exemption of forward-looking information. This part focuses on the analysis of the rule of safe harbor in the U.S Private Securities Litigation Reform Act, the duty of bespeaks caution and the duty of updating. This part analyzes the applicable conditions and scope of the exemptions.This essay makes an analysis on the standard of the identification of misrepresentation in the forward-looking information disclosure; makes a combination of the theoretical analysis and the current condition and legislation of Chinese Securities Market. This essay studies the legislative construction of the forward-looking information disclosure. This essay puts forward the authenticity criterion which is based on the legal truth and the materiality criterion of infecting investor’s decision. Meanwhile, we should perfect the exemption by build he duty of bespeaks caution and the duty of updating. This essay consults foreign system, meanwhile pays attention to the localization of the system.
Keywords/Search Tags:Disclosure, Forward-Looking Information, Authenticity, Materiality, Exception, Safe Harbor
PDF Full Text Request
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