证券内幕交易侵权责任的因果关系认定研究

发布时间：2018-01-21 18:54

本文关键词： 内幕交易因果关系认定规则因果推定原则市场欺诈理论　出处：《海南大学》2015年硕士论文　论文类型：学位论文

【摘要】：本文总共分三大部分,引言、结论和正文。其中正文将分成四个章节分别讨论内幕交易侵权责任因果关系问题的研究。第一章,评析学者对于内幕交易侵权责任因果关系的不同观点。总结我国学者对内幕交易侵权责任因果关系理论的分析,主要有三种不同的观点,其中理论的来源主要是继承和移植普通法系、大陆法系关于侵权责任因果关系的研究：1、事实因果关系说；2、法规目的说；3、相当因果关系说。而不同的理论对于内幕交易认定的规则和标准都不一致。第二章,讨论域外内幕交易侵权责任因果关系的认定,本章主要讨论三个国家分别是美国、日本和英国,通过了解这三个国家关于内幕交易侵权责任因果关系立法和司法实践内容,分别整理出他们分析该因果关系适用的理论和立法规则。第三章,本章首先对我国关于内幕交易侵权责任的立法进行了较为完整的阐述,但由于我国立法者对侵权责任中因果关系并没有制定相应细则,所以本文则采用司法实践的中法院在审判过程中对于认定内幕交易行为与损害后果之间的因果关系的规则,从两种类型案例分析,首先是对于民事案例的分析,再次分析行政案件中对于内幕交易因果关系的认定规则。第四章,是对于内幕交易侵权责任因果关系认定规则我国现存的问题和相关规则完善的建议,本章中建议主要分为两个方面：1、我国在认定内幕交易侵权责任因果关系中问题；2、规则建议：根据比较分析和实证分析,提出内幕交易侵权责任因果关系认定规则的建议。证券内幕交易作为危害极大的违法行为,不仅直接违反了证券市场的“三公”原则,而且给广大证券投资者造成了巨大的损害,更是丧失了投资者对证券市场的信心和期待。所以为了发展和繁荣证券市场多数国家都明令禁止内幕交易。域外国家特别是美国一直都是禁止内幕交易规则的范本,多数国家在制定禁止内幕交易过程中都是学习借鉴美国的做法,禁止内幕交易在美国采用的是行政、刑事的民事都追究内幕交易人责任的方式。在我国对内幕交易规制主要用行政责任与刑事责任追究,但民事责任的制定对禁止内幕行为有着不可或缺的作用,所以本文的写作目的就是希望能够为内幕交易民事责任的研究“添砖加瓦”。本文采用的方法主要有两种比较分析法和实证分析法,旨在实务中解决理论问题。最后再对我国完善内幕交易侵权行为因果关系给出自己的建议。
[Abstract]:This article is divided into three parts, the introduction, the conclusion and the text. The text will be divided into four chapters to discuss the cause and effect of insider trading tort liability.
The first chapter, comments on the different views of scholars for insider trading liability for tort causality. The analysis of the tort liability of insider trading causality theory scholars in our country, there are three different views, including the theory of inheritance and transplantation is the main source of common law on tort liability, the causal relationship between the continental law system: 1 in fact, causal relationship; 2, the law said; 3, causal relationship. But the different theories about the cognizance of insider dealing rules and standards are not consistent.
The second chapter, discuss the cognizance of extraterritorial infringement liability of insider trading causality, this chapter mainly discusses the three countries are the United States, Japan and Britain, through the understanding of the three countries on the tort liability of insider trading causality between the legislative and judicial practice, they are shown for the analysis of the causal relationship between the theory and legislative rules.
The third chapter, this chapter of our country about the tort liability of insider trading legislation for a more complete elaboration, but because of our legislators and not on the tort liability in relation to formulate the corresponding causal rules, so this paper uses the judicial practice of the court during the trial to define insider trading behavior between consequences and damage the rules of causation, from the analysis of two types of cases, the first is the analysis of the civil case, once again identified the causal relationship between insider trading rules for administrative cases.
The fourth chapter is the cognizance of the existing problems of China's rules and rules related suggestions for tort liability of insider trading causality, proposed in this chapter is mainly divided into two aspects: 1, China in the cognizance of insider trading causality in tort liability; 2 suggestions: according to the rules of comparative analysis and empirical analysis. The insider trading rules identified the tort causation.
Securities insider trading is extremely harmful violations, not only a direct violation of the securities market three principle, but also to investors caused great damage, is the loss of the investors in the securities market confidence and expectations. So in most countries the development and prosperity of the securities market have banned insider trading in foreign countries especially. The United States is always is a model for insider trading rules, most of the countries in the formulation of insider trading in the process is to learn from the practice of the United States, the prohibition of insider trading in the United States is the administrative, criminal civil liability for insider trading in all the way. In our country the insider trading regulation mainly by administrative responsibility and criminal responsibility, but the formulation of civil liability plays an indispensable role in prohibiting insider behavior, so the purpose of this article is to hope to be able to There are two ways of comparative analysis and empirical analysis for the study of civil liability of insider trading. The purpose of this paper is to solve theoretical problems in practice. Finally, we give some suggestions for improving the causality of insider trading tort in China.

【学位授予单位】：海南大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D923

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