On March 19,2021,Gaopeng Shanghai Branch held the second issue of"Gaopeng Forum"in 2021.Lawyer Ding Yong of our firm exchanged views on the liability of intermediaries in bond infringement disputes based on the case of compensation for misrepresentation of bonds of Wuyang Construction Company of Hangzhou Intermediate People's Court.

The first instance judgment of the Hangzhou Intermediate People's Court on the case of compensation for misrepresentation of Wuyang Construction Company bonds is of great significance in the history of the legal construction of China's securities market.The case was the first to adjudge securities companies,accounting firms,law firms,and credit rating agencies to assume joint and several liability for false statements and fraudulent issuance by corporate bond issuers,causing a significant impact on the relevant securities service industry.

In this lecture,Lawyer Ding Yong,with his rich experience in the securities industry and practical experience in handling related disputes,introduced the basic situation and hotspots of intermediary agencies'participation in the bond business to participating lawyers,and analyzed the different attitudes of regulators and courts regarding the responsibilities of securities intermediaries in securities information misrepresentation cases,Some suggestions on how to avoid risks for intermediary agencies,especially law firms,are put forward.

(This article is translated by software translator for reference only.)