The Effect of the Disruption of the Information of the Legal Responsibility in the Jordanian Stock Exchange and Comparison

Abstract

The International and local stock markets have witnessed significant developments in terms of the volume of money traded and the large number of companies whose shares are traded in those markets, which give a clear indication of the importance of the stock market as one of the institutions operating in the capital market, but has become one of the most important institutions influential in the economies of countries, It should be noted that the information has a significant role and influence in the decisions of dealers and investors in the financial market, the theories of efficiency of the stock market confirms that all information about the market and companies registered in it are available in general, freedom of information and access reach all without a cost, or at a low cost, but the practical reality reveals that there are illegal practices in the stock exchange dealings with information, there is a class of dealers have free access to internal information is not available to everyone, and there is a class that can publish false information in the market, or they can leak valid information that will make a big profit at the expense of the rest of the investors and traders who do not have access to this information, which has a negative impact on the financial markets and investors. In order to avoid this, the laws of various countries, including Jordan, have issued various penalties in violation of these obligations, which are the responsibility of the persons and entities concerned in case of breach of information related to stock exchange transactions. Information in the first subject, then the legal responsibility arising from the internal dealing in the second section, and then the legal responsibility of false and misleading disclosure in the third topic. The conclusion is that legal liability is determined by the violators of the stock exchange, and includes many parties in exchange for other beneficiaries. The basis of this responsibility is the texts of the special laws, in addition to the principle of good faith in the transactions imposed by all legislation in all types of contracts but by different standards.The study recommended the need to tighten the legal responsibility for all forms of breach of information in the stock exchange transactions committed by multiple parties, and then to organize and develop the disclosure of real and influential information in the light of international standards to include all necessary basic information to protect investors and maintain confidence in the market financial, and other necessary information in this area.

Keywords: Stock Exchange, Stock Market, Legal Responsibility,  Infringement of Information And Data , Auditors, Financial Analysts,  Service Companies , Investors