The Analysis Of Civil Liability System Used In Securities Trading

Securities illegal transactions is a big problem has been troubled securities market for along time, damaging the securities market order seriously, endangering the interests of publicinvestors, and harming the healthy and orderly development of the securities market, soalmost all countries prohibit securities illegal transactions through the legislation. Securitiesmarket in china has made considerable achievements in the legislative level and systemconstruction through twenty years of development. Our country has been insisting againstillegal securities transactions and striking the illegal securities transactions seriously for along time. Currently, as the regulation of securities trading legislation and supervision systemis not very perfect, and there is still lack of securities regulation illegal trading civil liabilitysystem, which somehow affect the securities regulation illegal trading efforts.Based on the analysis of the types of illegal securities trading behaviors, the authorcompares the compensation function of civil liability and penal function, draws the punitivefunction of civil liability the best way to regulate illegal securities trading behavior. Putforward the function of punitive damages into the illegal securities trading regulation. Andthought about protection of securities investors’ legitimate rights and interests in our country,aimed at building a complete system of punitive damages of securities market in our country,so as to achieve better protection of securities investors’ legitimate rights and rapiddevelopment of the stock market.Besides preface and epilogue, the paper can be divided into four parts:The introduction summarizes the background and significance of this topic, andsummarized the domestic and foreign research review of topic selection, this paper putsforward the innovation of this paper place.The first part mainly analysis the types of illegal securities trading behavior, they are theact of insider trading, market manipulation, fraud false statement behavior and customerbehavior, as well as other securities violations.the purpose is conclude the necessity of allkinds of illegal securities transactions through the analysis, making the foreshadowing forbelow discussion.The second part is mainly introduced the securities civil liability system, the authorreviewed the securities civil liability system, and then compares the advantages anddisadvantages of the system of punitive damages and compensatory damages system. The conclusion is that punitive damages system is the most effective way to protect lawful rightsand interests of securities investors.The third part, the author analyzes the imputation principle of punitive damages systemand constitutive requirements, draw lessons from the advanced experience of America,summed up the stock the components of the system of punitive damages in our country.The fourth part has analyzed the necessity and feasibility of building punitive damagessystem in the field of securities trading securities in our country. And put forward new ideasfor the construction of punitive damages system and how to perfect it. So as to protectlegitimate rights and interests of securities investors in ChinaIn the conclusion part, the author summarizes the main research content of this article,and based on the above research and analysis, Reiterated the urgency and necessity ofpunitive damages system in securities trading market in China.