Study On US Securities Class Action And Using For China's Reference

Along with the development of securities business, various securities tort emerged gradually. Countries in the world have designed and applied many systems in order to regulate the behaviors of the main players of securities market and to relieve the victims of securities tort. China can benefit a lot from learning the system of these countries and draw on their advanced experience scientifically and rationally. American Securities Class Actions is a typical example of these experiences.In this essay writer researches American Securities Class Actions based on comparative method. Then writer put forward a series of suggestions on the concrete practice of legislation. This essay is divided into four major parts. The overall composition is approximately as follows:The first part of the essay focuses on the introduction of the conception and character of Securities Litigation. This information can draw the outline of Securities Litigation. In the second part, writer learns the development and transformation of American Securities Class Actions by research the history of this system. Then writer analyzes the advantage and disadvantage respectively from the viewpoint of complaint, defendant, court and society. The advantage part is why China should learn from this system, while the disadvantage part is what China should try hard to avoid when we design our own institution. In the third part, writer analyzes our current securities litigation system, Representative Litigation. In this part writer makes the contrast of Representative Litigation and Securities Class Actions. By this contrast, the significance of Securities Class Actions shows itself clearly. In the last part, writer does further analyze on the rationality and feasibility of the securities litigation transform, then put forward a series of legislative suggestion concerning the development of securities litigation base on the results of the research above.