Improvement Of The Securities Arbitration Legal System

The securities market of China has made great achievements in the past twenty years.However,due to the existing illegal actions such as the securities inside story trade,market manipulation,false statement and defrauding clients,there are many security disputes coming with it which are influential and much professional.The security disputes become the vital problem of the securities market development,so it's meaningful to study the resolution of security disputes.The paper concerns on the dispute settlement mechanism of arbitration and finally raises the suggestion to improve the security arbitration system by comparing with the arbitration of security disputes in United States and analyzing the successes and defects in the dispute settlement mechanism of arbitration in China.The paper consists of three parts,the preface,the main part and the conclusion.The main part is composed of four chapters,the contents of which are following.The first chapter illustrates on the security disputes and the security arbitration.This part analyzes the features of security disputes based on the definition of the security disputes,which is the premise to discuss the basic theory of security arbitration and improve the security arbitration mechanism.Then it discusses the definition of the security arbitration through analyzing the arbitration,classifies the security arbitration and discusses the meaning of the consented security arbitration,half-compulsory security arbitration and compulsory security arbitration.It also focuses on the predominance of security arbitration,because of its following features,such as voluntariness,flexibility,professionalism,confidentiality,independence and efficiency,arbitration is more advantageous in the settlement of security disputes,which will bring the double positive evaluation from the parties and the society.Therefore security arbitration will become the main characteristic solution in the security disputes settlement,which is the important reason that the paper study on how to promote the dispute settlement mechanism of arbitration.The second chapter reviews the history of the security arbitration system in United States,probes the environment,the relative systems and the specialties of the procedural regulation,and aims to get some inspiration.Comparing the systems of other countries,U.S.A is not only the origin of the security arbitration,but also the country which improves the security arbitration system and standard construction best.Due to the 200 years' development,the United States' security arbitration system presents apparent features not only in the environment and relative systems,but also in the procedural regulation.Thus,the United States' security arbitration can be the world's model both in legislation and practice,and provide the experiences for improving the security arbitration system of China.The third chapter analyzes the present security dispute settlement mechanism of arbitration deeply.Security arbitration have made certain achievements during the past twenty years in China,which provides the base for the further development of Chinese security arbitration system, and makes it feasible for China to constructs an advanced security arbitration system.Meanwhile,comparing to the United States,the security arbitration system of China definitely has shortages not only in the degrees of legal effect,the perfection of the law and the institution establishment of security arbitration,but also in the procedure of security arbitration,which leads to the a series of negative consequences such as few security arbitration cases,inefficiency in the security arbitration and so on.Then this chapter comes to analyze the necessities of promoting the security arbitration system of China in the terms of respecting the parties' alternative right to civil procedure,lightening the burden of the court and reducing the judicial lawsuit cost.Eventually the paper proposes a series of specific measures to promote the security arbitration system of China from two aspects,including the exterior environment,relative systems and the procedural issues.The measures of former aspect include:advocating and carrying out the ideas of protecting the interests of public investors;the construction and improvement of the security arbitration institution;building a team of security professional arbitrator;strengthening the promotion to facilitate a better atmosphere of security arbitration;providing a more complete legal support for the security arbitration.The measures of latter aspect include: the expanding explanation on the written form of security arbitration negotiation;expanding the arbitral scope of security disputes;setting the reasonable arbitration prescription system;setting up the arbitration procedure for small contentious;stipulating strict disclosure duty of security arbitrator and the arbitration institution;entitling the arbitration institution and the arbitrator compulsory right of investigation and collecting evidence;insisting the flexible evidence regulation and so on.