Research On The Civil Liability Of Misrepresentation In Securities Market

With the development of China’s securities market, a growing number of securities violations are revealed, the misrepresentation is the stock market is the most common manifestation of violations, how to identify misrepresentation civil liability of securities markets, is our law industry hot topics to explore, improve and improve laws and regulations is of great significance to the healthy development of China’s securities market. Statement Civil stock market theory false urgency, attracting the attention of many scholars at home and abroad, the author is in this context, the reality of China’s securities market from the stock market to explore misrepresentation civil liability system.Taking China’s securities market misrepresentation civil liability for the study, combined with the existing theoretical discussion of actual cases the defects and deficiencies for our securities laws and regulations regulating the securities market on a false statement, drawing on the successful experience of foreign countries, based on the proposed suggestions to improve China’s securities market misrepresentation civil liability system.Thesis is divided into a total of four parts:The first part focuses on the basic theory of the stock market misrepresentation. Firstly, to clarify the meaning and characteristics of false statements, and on this basis, to resolve the four main manifestations of false statements and analyzes the nature of civil liability for false statements, false statements made civil liability should be defined as a special Tort Liability.The second part of the paper describes the main domestic and international civil liability misrepresentation scope and responsibility principle, analyzes each bear the main responsibility for tort liability theory, summarizes the " Supreme Court to hear the stock market triggered by false statements Some deficiencies of certain provisions of civil compensation cases," the main responsibility for the provision of false statements.The third part of the paper focuses on the facts and the law of causality causation and revelation about the causal relationship between the United States identified on China, analyzes the missing securities legislation concerning causation requirements, on the basis of false statements made to improve our causal relationship Advice.The fourth part describes the U.S. class action model, whether the country should adopt" class action " model were analyzed. Explained the reasons for the civil liability of securities litigation procedures specific to the pre-existing problems and improve thinking, meanwhile, cited the arbitration, mediation, conciliation and other ways outside of litigation to resolve civil disputes securities.The conclusion of the article reviews the status of the stock market and causes a false statement from the macro, and raises prospect of misrepresentation civil liability system.