Civil Liability For Misrepresentation Of Legal Analysis

It has been confirmed in different countries that the main purpose of Security Law is to protect investors' interests. Chinese Securities Regulation also established the principle of protecting individual rights. However the legislators' best wishes cannot decide or accelerate the market proceeding to normalization. So far, our securities market is filled with fraud. After the Bohai case has been exposed in 1996 many cases sprang up such as Daqing, Hongguang, Yinguangxia and so on. Of course, there are many reasons behind these cases, but from the eyes of law the real reason is the short of civil liability for long time.In 2005 new Security Law has been enacted. From this we are so lucky to find our court has detected the correct direction in the trail of misrepresentation. It is no doubt that these systematic regulations play great significance not only in the development of securities market but also in the improvement of legal system. However these regulations can't work very well in protecting investors' interests. Actually when we make a comprehensive view on our securities market it is not hard to recognize the enactment of regulations only represents we have searched out the reformational orientation. Therefore this dissertation tries to make us know the value of founding civil liability in securities market especially when our country has joined WTO.The dissertation is divided into four parts:Part I, mainly introduces the concept of misrepresentation. In this part the author emphasizes on the comment of the types of misrepresentation act and the standard of information disclosure. In conclusion, the purpose of this part is to form foundation of setting forth on misrepresentation constitution.Part II, discusses the outline of civil liability system. At the beginning the dissertation shows two different viewpoints. Then according to our market condition the author discreetly divides the liability into two kinds and analyzes them.Part III, as the main of this dissertation, reviews the constitution of...