Securities Tort Action For Damages A Number Of Issues To Study

Securities investors, who suffer from securities frauds, should have access to justice for damages, the civil litigation for securities tort compensation has the significance for protecting investors' right and interests, and enhancing the surpervision of securities market. The research and practices for the civil litigation for securities tort compensation is been highly developed in those developed country with rule of law, but still a fresh subject in China. The civil litigation for securities tort compensation is a very large topic, the article only focuses on several hot debated questions.The article consists of seven parts except preface, with about 37,000 words.Part one. The lawsuit caused by securities disputes is complex. For convenience of study, author define the concept of the civil litigation for securities tort compensation at first, then analyse its characteristics compared with general civil action for tort, and explore its functions.Part two. Introduction of the history and current situation of the civil litigation for securities tort compensation in China. Description of how the whole proceeding goes on, including lodging of complaint, initiation of proceeding, and trial.Part three. Firstly author introduce the grounds of review of the civil litigation for securities tort compensation in China. On the basis of analyse of the possibility of securities tort action, author point out that in order to protect more investors interests, the current grounds of review should be enlarged. Then author propose that there are several major case types should be included into the legislation. Finally the essay take advantages from U.S.A. theory of "implied private right of action", and advise that we should expand the grounds of review according to U.S. A legislation.Part four. The essay observe the pre-procedure in Chinese civil litigation for securities tort compensation, and why the legislators set it up. And then author analyse some existing problems of this pre-procedure. Finally, author think thatwe should adopt a specific securities arbitration mechanism as another pre-procedure, so we can let more victims have access to justice.Part five . Firstly, the essay introduces the class action of U.S.A., and all forms of civil action in China. Then author discuss the forms of civil action adopted in Chinese civil litigation for securities tort compensation, and point out the deficiencies. At last, author give some advices for improving our forms of civil litigation for securities tort compensation .Part six. At first, the essay introduces the concept of the burden of proof and its significance in civil action briefly. Then according to the principles of how to distribute burden of proof, and the characteristics of the civil litigation for securities tort compensation, author propose reversal of burden of proof should be adopted in the civil litigation for securities tort compensation.Part seven. In the civil litigation for securities tort compensation, it involves numerous victims, whether the res judicata can be expanded to other victims not joining the action is worth studying. The essay discusses this briefly.