论我国证券市场虚假陈述公益诉讼制度的构建
发布时间：2018-10-29 20:42
【摘要】：2013年,我国在新的民事诉讼法中首次规定了公益诉讼制度,让我国公益诉讼的发展向前进了一大步。虚假陈述行为自17世纪阿姆斯特丹股票交易所成立以来就一直存在,随着证券市场的发展而发展。证券欺诈行为违背诚实信用,虚假陈述行为人通过虚假记载、误导性陈述,或者在披露信息时发生重大遗漏、不正当披露信息等手段谋取巨额非法收益,违背了证券市场运行的公开、公平、公正原则,影响了证券市场的资源配置机制,使众多投资者的合法权益受损严重,损害社会公共利益。为规范证券市场的运行,保护众多投资者合法权益,美国建立起证券欺诈集团诉讼制度,德国演化出示范性诉讼制度,我国台湾地区引入团体诉讼制度。我国现有的证券法律法规虽然也规定了虚假陈述行为主体的民事责任,但其不属于公益诉讼,操作性不强。同时存在民事赔偿诉讼机制不足,仲裁解决机制不完善,证券投资者保护机构效果有限和监督不足,在实务中难以实施。证券市场虚假陈述行为造成的损害后果具有“小额数多”的特征,单靠利益受到损害的投资者通过传统的诉讼方式向人民法院提起诉讼,很难达到预期效果,其结果会危及整个证券市场甚至是我国经济社会的健康发展,投资者需要一种更为合适的诉讼制度来维护自身的合法权益。在我国,公益诉讼制度仍是一种新型的诉讼形式,这种形式适合解决损害众多人利益的违法行为引起的纠纷,具有维护公共利益的功能,将其引入证券市场用于解决虚假陈述纠纷有着积极意义。我国的证券市场虚假陈述公益诉讼制度的构建,可在借鉴境外有益经验的同时,结合我国实际,分别从起诉的原告、起诉条件、案件管辖、举证责任和激励约束机制等方面加以构建,从而达到保护证券市场投资者,保障证券市场健康发展,维护社会公共利益的目的。
[Abstract]:In 2013, China stipulated the public interest litigation system for the first time in the new civil procedure law, which made the development of public interest litigation a big step forward. Misrepresentation has existed since the establishment of the Amsterdam Stock Exchange in the 17th century, and has developed with the development of the stock market. Securities fraud is contrary to good faith, and the perpetrator of a false statement gains a huge amount of illegal profits by means of false records, misleading statements, or material omissions or improper disclosure of information, etc. It violates the principles of openness, fairness and justice in the operation of the securities market, affects the resource allocation mechanism of the securities market, and makes the legitimate rights and interests of many investors seriously damaged, thus harming the public interests of the society. In order to regulate the operation of the securities market and protect the legitimate rights and interests of many investors, the United States established the securities fraud class action system, Germany evolved the model litigation system, and the Taiwan region of China introduced the class action system. Although the existing securities laws and regulations of our country also stipulate the civil liability of the behavior subject of false statement, it does not belong to the public interest litigation, and the operation is not strong. At the same time, the civil compensation litigation mechanism is insufficient, the arbitration settlement mechanism is not perfect, the effect of the securities investor protection institution is limited and the supervision is insufficient, so it is difficult to implement in practice. The damage consequences caused by false statements in the securities market are characterized by "small amounts". Investors whose interests have been damaged can hardly achieve the desired results by bringing a lawsuit in a people's court through traditional litigation methods. The result will endanger the whole securities market and even the healthy development of our country's economy and society. Investors need a more suitable litigation system to protect their legitimate rights and interests. In China, the public interest litigation system is still a new form of litigation, which is suitable for resolving disputes caused by illegal acts that harm the interests of many people, and has the function of safeguarding the public interest. It is of positive significance to introduce it into the securities market to solve the dispute of false statement. The construction of public interest litigation system of false statement in securities market of our country can draw lessons from overseas beneficial experience, combine with the reality of our country, from the plaintiff, the condition of prosecution, the case jurisdiction, respectively. The burden of proof and the mechanism of incentive and restraint are constructed in order to protect the investors of the securities market, ensure the healthy development of the securities market and safeguard the public interests of the society.
【学位授予单位】：湖南师范大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：D922.287;D925.1
本文编号：2298767
[Abstract]:In 2013, China stipulated the public interest litigation system for the first time in the new civil procedure law, which made the development of public interest litigation a big step forward. Misrepresentation has existed since the establishment of the Amsterdam Stock Exchange in the 17th century, and has developed with the development of the stock market. Securities fraud is contrary to good faith, and the perpetrator of a false statement gains a huge amount of illegal profits by means of false records, misleading statements, or material omissions or improper disclosure of information, etc. It violates the principles of openness, fairness and justice in the operation of the securities market, affects the resource allocation mechanism of the securities market, and makes the legitimate rights and interests of many investors seriously damaged, thus harming the public interests of the society. In order to regulate the operation of the securities market and protect the legitimate rights and interests of many investors, the United States established the securities fraud class action system, Germany evolved the model litigation system, and the Taiwan region of China introduced the class action system. Although the existing securities laws and regulations of our country also stipulate the civil liability of the behavior subject of false statement, it does not belong to the public interest litigation, and the operation is not strong. At the same time, the civil compensation litigation mechanism is insufficient, the arbitration settlement mechanism is not perfect, the effect of the securities investor protection institution is limited and the supervision is insufficient, so it is difficult to implement in practice. The damage consequences caused by false statements in the securities market are characterized by "small amounts". Investors whose interests have been damaged can hardly achieve the desired results by bringing a lawsuit in a people's court through traditional litigation methods. The result will endanger the whole securities market and even the healthy development of our country's economy and society. Investors need a more suitable litigation system to protect their legitimate rights and interests. In China, the public interest litigation system is still a new form of litigation, which is suitable for resolving disputes caused by illegal acts that harm the interests of many people, and has the function of safeguarding the public interest. It is of positive significance to introduce it into the securities market to solve the dispute of false statement. The construction of public interest litigation system of false statement in securities market of our country can draw lessons from overseas beneficial experience, combine with the reality of our country, from the plaintiff, the condition of prosecution, the case jurisdiction, respectively. The burden of proof and the mechanism of incentive and restraint are constructed in order to protect the investors of the securities market, ensure the healthy development of the securities market and safeguard the public interests of the society.
【学位授予单位】：湖南师范大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：D922.287;D925.1
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