On The Civil Liabilities Of Securities Torts And Its Realization

It is not a long time since our country establishes the stock markets, but the markets develop rapidly. However, high speed does not mean high quality. The stock markets in the country are not normative markets, where exists the tendency of not putting much more attention to the protection of investors, especially to the protection of the minor investors. The phenomenon has been shown by the following facts: one is that in Securities Law, there are only administration and criminal liabilities on some securities illicit activities while lacking the decrees of civil liabilities, which leads to such a situation that the investors can not protect their civil right; the other is that because in the decree of civil liabilities, there is no detail decrees on how to carry out the civil liabilities and no judicial explanations enacted by Supreme Court, courts in China refuse to accept and hear a case that the investors brought to the courts. All of those bruised the confidence of the investor seriously, and affect the development of the stock markets. A lot of scholars have conducted a flood of study on perfecting the provisions of civil duty in Securities Law. The author of this article has realized that the perfection of the civil duty does only resole the problem of legal basis, and the settlement of this problem is only the premise of the realization of civil duty and can not be interpreted as the realization of civil duty for the infringed investors. In this article, the author conducted a analysis on the elements that make a civil infringement of several main securities exchange, and made a discussion on how to realize the civil duty in the practice of lawsuit and non-lawsuit, so as to do something to improve the civil duty of securities in our country.