We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Prospectus Liability v. Criminal Punishment: The Case of Public v. Private (But without Enforcement).
- Authors
Kairjak, Marko
- Abstract
The article discusses the prospectus liability and criminal punishment in Estonia under the Securities Market Act (SMA) and investment fraud of section 211 of the penal code (PC). It says that prospectus liability and disclosure requirements aim to address the problem of corporate issuer in selling bad securities during public offerings. It mentions that the issuer will compensate the owner for damage sustained including false information or omission of facts, significance requirement, and unawareness on the part of the person claiming damage as to the false information or omission. It argues that civil claims are considered ineffective due to unclear grounds for any claims.
- Subjects
ESTONIA; PROSPECTUS writing; CRIMINAL liability; FINANCIAL markets -- Government policy; INVESTMENT fraud; CRIMINAL codes; FINANCIAL disclosure; SECURITIES trading; GOING public (Securities); CIVIL liability
- Publication
Juridica International, 2012, Vol 19, p145
- ISSN
1406-1082
- Publication type
Article