摘要： 强制公开原则是证券法律制度中的一项重要原则。强制公开是义务主体向不特定投资者承担的一项法定义务，它要求义务主体必须依法定的形式和内容履行义务；强制公开义务主体是指依据证券法律规定，有义务以自己的名义公开发布相关信息，并对此信息公开行为承担法律责任的主体，主要包括有价证券的发行人、特定情形下的投资者、公司并购中的收购人；强制公开的责任主体，是指根据证券法律法规的规定，因违反强制公开法律制度所应承担民事责任的主体，主要包括发行人、发行人的内部管理人员等直接责任人、保荐人、出具专家意见的证券服务机构、证券商、一定情形下的投资者。

关键词: 强制公开 , 义务主体 , 责任主体

Abstract: The compulsory publicity obligation is a kind of legal obligation which the subject beating obligationshoulders to non—individually defined investors．This obligation requires the subject bearing obligation must fulfill theobligation according to legal forms and contents．The subject of compulsory publicity，namely the compulsory publicityobligor mainly including distributors of forged and altered securities，investors under specific circumstances and putchasers of corporate mergers and acquisitions，is the one who has obligation to publicize related information in his ownname and is responsible for the action of publicity．The subject of compulsory publicity liability is the one who should undertake civil liabilities because of his breach of compulsory publicity legal system according to security laws and regulations，mainly including recommenders，security services presenting professional opinions，security dealers，investors under specific circumstances，persons of direct liabilities such as distributors，internal management staff of distributors andso on．

Key words: Compulsory Publicity, Subject Beating Obligations, Subjects Undertaking Liabilities