6.4.3.0 Introductie

It is noteworthy that section 90 FSMA 2000 expressly preserves the right for investors to claim liability onder common law.1 Therefore, this paragraph analyses which persons, and on what basis, can be held liable for misinformation in a prospectus.

By the third quarter of the 19th century, the courts in England and Wales had established civil liability in relation to fraudulent misrepresentation in prospectuses through the development of the common law tort of deceit. However, in common law jurisdictions there is an extreme reluctance to impose liability for negligent misstatements where this would result in liability in an indeterminate amount for an indeterminate time to an indeterminate class'.2