Information Disclosure System Of The Company Directors' Responsibility

As one of the most important system in Securities Law, Disclosure System of Information could be trailed back to Britain. And it was also the core of Securities Law in America, which has the most advanced Securities Law in the world. The liability and the relief system are indispensable component of Disclosure System of Information. For investor, "No relief, no right", And for law-breaker, liability is the main cost for his infringement Therefore, regulations of liability are essential to punish and prevent the infringement in stock marketThis dissertation is focus on the System of Information Disclosure, and lay emphasis on the liability of misrepresentation of the company's directors. And this dissertation is composed of four parts.Part I is "Information Disclosure and Liability", introduces the concept basic theory of Information Disclosure and the concept, function, conflict resolution of violation of DSI liability, which disclose the significance of DSLPart II is "The necessity of assigning directors' liability". In this chapter, systematically introduces the legal status of directors and its importance. In addition, this chapter indicates the liability that director should take and the specified behavior when he broke DSI.Part III is " Liability of Directors", tends to dwell on the liability that director should take, which includes criminal responsibility, Administrative responsibility and civil responsibility. This part focuses on the Civil Liability.Part IV is "the limitation of existing national legislation and the resolution drew from it". This part introduces our national legislation and it's disadvantages.