Empirical Studies on Civil Liabilities of Financial Statements Fraud---Focus on Article 20(2) and 20-1 of Securities and Exchange Act

• Main Authors: LIEN, CHI-YUN, 連琪勻
• Other Authors: KUO, TA-WEI
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/h7dds9

碩士 === 輔仁大學 === 法律學系 === 104 === Financial statement fraud has negative impact to the development of stock market, thus most of the countries enact laws to prohibit it and set up legal relief for investors who suffered from these kind of events, so does Taiwan. Adding Article 20(2) and Article 20-1 of the Securities and Exchange Act in 1988, 2006, had almost completed the civil remedies. Besides, filing complaints on the behalf of investors by Securities and Futures Investors Protection Center since January 2003, had provided efficient litigation services as well. As the legal relief has been set up over 10 years, this thesis try to use quantitative approach of empirical study on 86 judgements which is about financial statement Fraud and has been held from January 13,2006 to September 9,2015, to show the judicial practice phenomenon of financial statement fraud cases in many aspects and issues. First of all, this thesis introduces the evolution and the latest development of Article 10(b) of Securities Exchange Act of 1934 (USA), Rule 10b-5, and judicial practice which we learned when legislating; secondly, discussing each principle elements and issues of Article 20(2) and Article 20-1 of the Securities and Exchange Act; finally, using the statistical methods on the 86 judgements to show the opinion tendency of courts on each principle elements of Article 20(2) and Article 20-1 of the Securities and Exchange Act, and judicial practice phenomenon in other issues of financial statement Fraud cases (including: Jurisdiction, methods of the financial statement fraud, the average time of a financial statement fraud trial, the appeal rates and outcomes of the financial statement fraud cases etc.), then analyzing the empirical study results and proposing some critiques and suggestions based on the research that mentioned above.