Research On The Procedure Of Securities Group In China

The current situation of China’s security class action shows that security class action system in China cannot meet the need to protect investors’interest. In the notice concerning the acceptance of disputes related to civil tort of false statement in security market promulgated in2002by the Supreme People’s Court, the application of class action in collective lawsuits of security is explicitly prohibited. However, the systems of joint action and representative action carried in the code of civil procedure have showed many disadvantages in solving such issues. The efficient and effective way to crack the problem is to import the system of class action in a comparative perspective, as indicated in this paper though analysis.This paper is divided into four parts:In Chapter Ⅰ, I introduced the concept of class action and security class action,compared different security class action systems in foreign countries and the representative action system in China, and provided an analysis of their virtues and exposed defaults.In Chapter Ⅱ, I summarized the current situation of the legal system of collective lawsuits of security, and by researching the leading cases I explained the realistic problems in the practice of collective lawsuits of security, and analyzed the logical and pragmatic problems of it.In Chapter Ⅲ, I introduced the idea of class action procedure in China, explained the importance and necessity of the establishment of security class action system, and summarized the security class action system in China should be guided by several principles.In Chapter Ⅳ, I constructed the theory of class action system in China by focusing on some key issues in collective lawsuits of security.