On The Improvement Of My Country's Securities Group Litigation System

At present,the increasing frequency of securities infringement causes the majority of investors' rights and interests to be damaged,and the stock market is out of order.In view of the typical characteristics of small majority of securities infringement,and often involving multiple subjects,the traditional two-building litigation model is difficult to achieve effective docking with such disputes.Therefore,breaking through the shackles of traditional litigation mode,it is particularly critical to apply securities group litigation to resolve securities infringement disputes.Through the securities group litigation system,many small and medium-sized investors can be concentrated in a fictitious group to balance the two forces,to the relatively strong defendant to deter,to achieve the substantive equality of litigation status between the two sides.Securities The group litigation system takes the protection of the rights and interests of small and medium-sized investors as the fundamental purpose and the primary starting point,and has a positive impact on improving the efficiency of litigation,deterring and preventing securities infringement.However,the current securities group litigation system in China is not enough to effectively resolve disputes,effectively protect the legitimate rights and interests of investors,the reason is that the relevant system measures are still not perfect.The complete securities group litigation mechanism is a sharp weapon to protect investors' rights and interests and curb securities infringement.Therefore,it is of great significance to perfect the current securities group litigation system in China.It is based on the need to relieve the current practical difficulties and perfect the procedural jurisprudence,this paper will take the analysis of the basic theory of the system as the starting point,evaluate the current operation status of the relevant system in our country,combined with the comparative study of the extraterritorial related system,and finally try to put forward some humble views on the improvement of the system.The text consists of the following four parts:The first part analyzes the basic theory of the securities group litigation.Firstly,the paper analyzes the basic characteristics of securities infringement and the particularity of securities infringement relief,clarifies the characteristics of securities group litigation different from ordinary civil litigation,and expounds the connotation and system value of securities group litigation system.The second part examines the current situation of securities infringement grouplitigation system in China.On the one hand,the development of securities infringement litigation in China is briefly combed;on the other hand,the current securities group litigation related system in China is investigated,and it is pointed out that the current difficulties in the operation of the system mainly include that the representative litigation system is still vacant in practice,the scope of the case is narrow,the relevant rules of the litigation representative are relatively simple and so on.In the third part,it carries on the comparative research to the extraterritorial securities group lawsuit settlement mechanism.Through the research and analysis of the relevant mechanism of extraterritoriality,we draw inspiration: in the process of perfecting the relevant system in our country,we can draw lessons from the successful experience of extraterritoriality,but we still need to focus on the typical characteristics of the securities market in our country,and construct the litigation system of securities group in accordance with the national conditions of our country.The fourth part gives some suggestions on the perfection of the securities group litigation system in China.The revision of the Securities Law created a new civil litigation mechanism of securities,but the substantive law for us to build only a more principled framework,the specific supporting procedures still need to be improved.In this chapter,the author puts forward some concrete ideas about expanding the scope of the case,eliminating the pre-conditions of litigation,perfecting the rules of litigation representative,establishing the system of lawyer's winning honor and paying compensation,and adhering to the system of special fund's advance payment,so as to make a difference and push forward the legal process of securities market together.