Civil Liability For Fraudulent Listing

In recent years,the cases which about Fraudulent IPO are becoming more and more due to rising competition and the strict government supervision.In 2016,Dandong Xintai Electric Co.,Ltd was punished by China Securities Regulatory Commission because of Fraudulent IPO,and it is the first delisting campany which have been a Listed company for a long time.The way of Fraudulent IPO which Dandong Xintai Electric Co.,Ltd does is misrepresentation in its financial documents.Misrepresentation is one of the most common phenomenon in the stock market.Fraudulent IPO isthattheissuerdid notdisclosure informationin accordance with the law.It occurred frequently,seriously affecting investors on the attitude and confidence in the stock market.Under this case as the background,this article focus on the civil liability of Fraudulent IPO to analysis how to protect the investor.This article is divided into three parts:the first part try to introduce the case of Dandong Xintai Electric Co.,Ltd and the definition of Fraudulent IPO.The second part try to introduce the harmfulness of Fraudulent IPO and the deficiencies in the laws and regulations,and it is important to perfect the laws and regulations.The third part try to introduce the civil liability of Fraudulent IPO which combine with the reality.Including of the legal basis and the constitution.And then this part make a concrete analysis of each specific responsibility subject.The conclusion part summarize the full article and put forward the outlook to the law and regulations in stock market.