Rearch On Civil Liability Of Security

At present Chinese securities market exists massive illegal activities, its hurt is huge. On the one hand, the illegal activitives of security destroy the system of securities market, make the securities markets basic function of optimizing resource collocation be unable to realize, possibly initiates the crisis of securities market ; On the other hand, the illegal activitives of security have seriously violated investor's legitimate rights and interests, possibly will affect the investor's confidence to securities market and finally make investors to be far form securities market. The legal rule is the best way of suppressing the illegal activitives of security, but legal liability is the ultimate guarantee of legal rules realization.In three main shapes of legal liability, criminal liability and administrative liability are the responsibilities in the public law, they implement human's disciplinary punishment and the deterrent to the illegal act;civil liability is the responsibility in the private law, the stress is to compensate the losses of investors. Making a comprehensive view to the world, "the privatization of public law " is one of modern law development tendencies. " the privatization of public law " represents that in the public law , suitably using the civil law system to carry out the task of the public law, to achieve the goal of the public law. In Securities Law, specially in the public relations of security, using the system of civil liability of security can be assistant to the effective supervision of security, thereby vindicating the order of securities market and protecting investor's legitimate rights and interests. Deficiency of civil liability in Securities Law of PRC is evident,and judicial practice of civil litigation of security is also at the beginning. I hope this article will be conductive to perfecting the system of civil liability of security.This article falls into three chapters. Chapter One is basic on the causes of civil liability, the author advocate civil liability of security includes securities liability for breach of contract and securities liability for tort, and then in the eyes of"the public law civil law"the author expounds the value of cilil liability of security.In Chapter Two, establishment responsibility fault liabilities of concluding contracts, based on analyzing civil legal relationship of security, the author construes the basic relationships of civil liability of security which inculde securities...