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od 15.4.2007

Ossendorf V.: Civil liability for incorrect and incomplete financial market information

The author gives a complex view of civil liability for incorrect and incomplete information on the financial market. His view is based on the assumption that non-transparent (asymmetrical) financial market is economically inefficient and unjust. Non-transparency of the market may be caused not only by absence of information but also when there is enough information but it is not correct or complete. One of the tools how to force the originator and distributor of information to supply correct and complete information is civil liability. The author debates the dogmatic foundations of civil liability for incorrect or incomplete information on the financial market as well as the elements of liability relationship (the liable person, the beneficiary, the object of liability, the reasons of liability, damages and other harm, causal nexus, circumstances excluding and reducing liability and plurality of liable persons). The article draws not only from extensive Czech specialized literature but also from German sources.
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