Investors to Have Rights to Sue Media, Market Analyzers for Their Losses
Posted on: Wednesday, 24 August 2005, 09:00 CDT
Investors to have rights to sue media, market analyzers for their losses
BEIJING, Aug. 23 (Xinhua) -- In the future, local investors should have the right to sue media or market analyzers for wrong reports or advice which cause their economic losses.
The Law Committee of the National People's Congress (NPC) included this new recommendation in the draft of the revised Law on Securities, which was handed over to the NPC Standing Committee Tuesday.
At present, consultation companies collaborate with media or market speculators to misguide investors.
The committee proposes that the media should compensate for publishing wrong information, while consultants should be prohibited from using media or other means to misguide investors and should be held responsible for losses.
Source: Xinhua News Agency - CEIS
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