Dissemination of false or misleading information as a crime The principle of transparency in the stock market (A comparative study between Algerian and French legislation)

Abstract

The proper and normal execution of operations on the stock market depends on the issuers of securities transparency. Transactions in the stock market rely on the commitment of issuers of securities to provide information on their conditions and development.  They are expected to demonstrate an accurate and correct picture of their status and make it available to the public, brokers and investors, as it is the main driving force that affects the buying or selling of securities. However, sometimes issuers of securities publish a misleading and false information that may have an impact on prices. For such potential occurrence risk, the Algerian legislator intervened, in the light of the legislation regulating the stock markets, especially the French legislation, to establish criminal liability for every person who violates the transparency, accuracy and credibility of the information.