美国证券法域外法律适用之理论与实践

发布时间：2018-05-05 03:41

本文选题：美国证券法 + 公法　；参考：《中国政法大学》2009年硕士论文

【摘要】： 随着全球证券市场国际化和全球化程度不断加深,证券交易活动当中的争议出现也愈加频繁,特别是以证券交易活动当中的虚假陈述、内幕交易等欺诈活动所导致的争议更是不胜枚举。于此情况下,各国对于国际证券交易活动的法律规制所产生的与证券法相关的域外法律适用问题也成为了司法界与理论界共同关注的重要课题。本文重点以美国证券法域外法律适用的理论与实践的发展脉络为论述主线,探讨在证券法域外法律适用的基本原理以及一般规律,以发展而且开放的观点对证券法域外法律适用问题进行深入剖析,并得出笔者对该问题的研究心得以及分析建议。本文的基本体系是首先针对证券法域外法律适用的基本理论以及普遍规律予以介绍和分析,并将其必要性进行阐释,随后介绍美国的相关实践发展,并论述其理论的由来、优点以及弊端,最后在美国实践的基础上探讨其存在的合理性以及发展的趋势,并最终得出对中国的启示。论文第一章主要是介绍证券法域外法律适用的由来。笔者认为证券法在一般意义上而言属于经济法的范畴,即传统意义上的公法,但是又不完全是公法,是公法和私法相结合的一个部门法,因而其域外法律适用便有其特殊性,同时证券法也是在借鉴其他相关经济法律的基础上发展出其域外适用的理论,因而有必要对经济法这个上位概念的域外适用做出必要的阐释,得出其一般规律和适用标准,进而导出证券法域外适用的必然性。第二章是本文的主体。主要论述的是整个美国证券法域外适用的发展脉络。首先第一节论述的美国证券法的规范基础,将域外适用当中主要运用的法律进行总括性介绍。接着第二节和第三节便以美国证券法域外适用的实践当中的案例论述为例证,将“效果原则”、“行为原则”以及“合理性原则”一一详细论述,并探讨各种原则的存在的合理性以及弊端。最后再是对本章做出小结,将美国证券法域外法律适用的理论与实践发展做出笔者的评价。第三章是本文主体思想的延续,论述的是美国证券法域外法律适用理论与实践的启示。第一节是对其理论来源以及目前颇具争议的对国际私法传统理论造成冲击的公法性质的规范纳入法律适用范围的理性分析,以具体问题具体分析的态度来对待理论发展的先行性,以及在处理具体问题时的必要性,并提出笔者的观点,认为要对其进行合理的限制,得出具体的适用规则,不能一味的排斥,也不能让其盲目地扩大。第二节论述的是美国证券法域外适用性对中国证券法域外效力的启示,笔者提出若干立法建议和标准以供参考,以期能在未来的立法实践和司法实践当中起到抛砖引玉的作用。
[Abstract]:With the internationalization and globalization of the global securities market, disputes in securities trading activities have become more and more frequent, especially with false statements in securities trading activities. Insider trading and other fraud caused by controversy is endless. In this case, the application of foreign laws related to the securities law has become an important issue that the judicial and theoretical circles pay attention to. This paper focuses on the development of the theory and practice of the extraterritorial application of securities laws in the United States, and probes into the basic principles and general laws of the application of extraterritorial laws in the securities laws. From the viewpoint of development and openness, this paper makes a thorough analysis of the application of foreign securities laws, and draws the author's research ideas and suggestions on this issue. The basic system of this paper is to first introduce and analyze the basic theory and general law of the application of foreign securities law, and explain its necessity, then introduce the development of relevant practice in the United States, and discuss the origin of its theory. Finally, on the basis of American practice, the rationality of its existence and the trend of its development are discussed, and the enlightenment to China is finally obtained. The first chapter mainly introduces the origin of the extraterritorial application of securities law. The author thinks that the securities law belongs to the category of economic law in general sense, that is, public law in the traditional sense, but it is not entirely public law, it is a branch law which combines public law with private law, so its application of extraterritorial law has its particularity. At the same time, the securities law also develops the theory of its extraterritorial application on the basis of other relevant economic laws. Therefore, it is necessary to make a necessary explanation of the extraterritorial application of the upper concept of economic law, and to obtain its general rules and applicable standards. Furthermore, the inevitability of the extraterritorial application of securities law is derived. The second chapter is the main body of this paper. This paper mainly discusses the development of the extraterritorial application of the securities law in the United States. The first section deals with the normative basis of American securities law. Then the second and third sections take the case study of the extraterritorial application of American securities law as an example. The "effect principle", "behavior principle" and "rationality principle" are discussed in detail. The rationality and malpractice of the existence of various principles are also discussed. In the end, the author evaluates the theory and practice of the extraterritorial application of American securities law. The third chapter is the continuation of the main body of this article, which discusses the enlightenment of the theory and practice of the extraterritorial application of securities law in the United States. The first section is the rational analysis of its theoretical sources and the current controversial norms of public law that impact the traditional theory of private international law into the scope of application of the law. Taking the attitude of concrete analysis to deal with the first nature of theoretical development and the necessity of dealing with specific problems, the author puts forward the author's point of view that it should be reasonably restricted and the concrete applicable rules should be obtained. Cannot blindly reject, also cannot let it blindly expand. The second section discusses the enlightenment of the extraterritorial applicability of American securities law to the extraterritorial effect of Chinese securities law. The author puts forward some legislative suggestions and standards for reference, in order to play a role in the future legislative practice and judicial practice.
【学位授予单位】：中国政法大学
【学位级别】：硕士
【学位授予年份】：2009
【分类号】：DD912.28;D971.2

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