我国证券市场内幕交易民事赔偿制度研究

发布时间：2018-06-24 16:34

本文选题：证券市场内幕交易 + 民事赔偿　；参考：《安徽大学》2013年硕士论文

【摘要】：中国证券市场诞生于上个世纪90年代初期。在这20多年的发展历程中,它不仅在我国国有企业的改革与转型中扮演着催化剂的角色,而且还为广大中小企业筹集了大量宝贵的资金,为一批优秀的民营企业建立起了平台,推动着它们迈向世界的舞台。同时证券市场的健康发展也为广大投资者增加了财产性收入,提高了他们的物质生活水平。但是它的发展并不是一帆风顺的,这两年证券市场内幕交易犯罪案件的发生呈井喷趋势。这些案件不仅严重威胁到了证券市场的秩序,还重创了投资者的信心。纵观资本发展的历史,每个经济发达的国家都必须具备成熟的证券市场。而一个成熟的证券市场的标志并不是意味着具有大量富可敌国的上市企业,也不是那些可以不断推出金融产品的投资机构或者是腰缠万贯的投资者,而是具有一个公平正义的法律制度。这种法律制度可以孵化出像微软、苹果、沃尔玛等闻名内外的跨国企业,也可以诞生像索罗斯、巴菲特等一系列的投资大师,更会将那些企图通过内幕交易等违法手段来获取暴利的人们绳之于法,进而充分保障广大市场参与者的救济权利。因此,我国目前迫切需要建立起完善的证券内幕交易民事赔偿制度来打击内幕交易不法行为,为广大投资者建立起良好的投资环境,切实维护证券市场的公平与稳定从而推动我国实体经济有好又快的发展。而该制度内容涉及到程序法及实体法上的诸多方面,因此文章以三个部分对它的完善加以分析和研究。首先对证券市场内幕交易民事赔偿制度的基本理论进行分析,讨论其特征及危害性并对内幕交易民事赔偿的基础概念加以阐述,分析内幕交易民事赔偿中侵权责任的法律性质及其构成要件的特殊性,提出完善赔偿制度的重要意义。其次论述了我国证券市场内幕交易民事赔偿制度存在的缺陷。主要通过对目前我国内幕民事赔偿制度在程序法存在前置程序、诉讼模式、诉讼时效以及管辖范围这四个问题进行分析,以及实体上存在损害赔偿权利人的确认范围和内幕交易民事责任的内容规定不完善这两个方面进行分析。最后在借鉴国外先进经验的基础上提出了完善我国证券内幕交易民事赔偿制度的建议。从取消前置程序到建立集团诉讼模式、从诉讼时效到管辖范围提出了建议,以促进民事赔偿制度在程序法上的全面完善。而在实体上的完善则一方面应该规定内幕交易赔偿请求权利人的范围；另一方面要完善内幕交易民事责任的内容规定。
[Abstract]:China's securities market was born in the early 1990s. In the course of more than 20 years' development, it has not only played a catalytic role in the reform and transformation of state-owned enterprises, but also raised a large number of valuable funds for the majority of small and medium-sized enterprises, and set up a platform for a number of outstanding private enterprises. Push them to the world stage. At the same time, the healthy development of the securities market also increases the property income for the majority of investors, and improves their material living standard. But its development is not smooth, these two years the securities market insider trading crime case occurrence to present the blowout tendency. These cases not only seriously threaten the order of the securities market, but also hit the confidence of investors. Throughout the history of capital development, every developed country must have a mature securities market. The mark of a mature securities market does not mean that there are a large number of listed companies that are rich and competitive, nor are they investment institutions that can continuously launch financial products or investors with a wealth of money. It has a fair and just legal system. This kind of legal system can incubate multinational enterprises such as Microsoft, Apple, Wal-Mart and so on, and can also give birth to a series of investment masters such as Soros, Buffett and so on. Those who try to obtain profiteering through insider trading and other illegal means will be brought to justice, thus fully protecting the rights of the broad market participants. Therefore, at present, China urgently needs to establish a perfect civil compensation system for securities insider trading to crack down on illegal activities of insider trading, so as to establish a good investment environment for the majority of investors. To maintain the equity and stability of the securities market and promote the development of our real economy. The content of this system involves many aspects of procedural law and substantive law, so the article analyzes and studies its perfection in three parts. First of all, it analyzes the basic theory of civil compensation system of insider trading in securities market, discusses its characteristics and harmfulness, and expounds the basic concept of civil compensation for insider trading. This paper analyzes the legal nature of tort liability in civil compensation for insider trading and the particularity of its constituent elements, and puts forward the important significance of perfecting the compensation system. Secondly, it discusses the defects of the civil compensation system of insider trading in China's securities market. Mainly through the analysis of four problems existing in the present civil compensation system of our country, such as pre-procedure, mode of litigation, limitation of action and scope of jurisdiction, It also analyzes the scope of confirmation of the obligee of damages and the imperfection of the content of the civil liability of insider trading. Finally, on the basis of drawing lessons from foreign advanced experience, the paper puts forward some suggestions to perfect the civil compensation system of securities insider trading in our country. From canceling the pre-procedure to establishing the model of group action and from the limitation of action to the scope of jurisdiction, this paper puts forward some suggestions in order to promote the comprehensive perfection of the civil compensation system in procedural law. On the other hand, on the one hand, the scope of insider trading claims for compensation should be defined; on the other hand, the content of insider trading civil liability should be improved.
【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D922.287;D923

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