Securities Civil Liability For False Statement In A Comparative Study Of The Causal Relationship

As an important logical tie between illegal activity and damage, causation is not only a key problem in torts, but a very difficult problem that troubles the theoretical and practical circles. As far as the case of civil damage compensation of securities is concerned, how to decide the causation between the defendant's tort activity and the claimant's damage is a difficult point to realize judicial relief, because of the specialization of securities transaction and the difficulty of investors' burden of proof. So, theoretical and practical circles keep calling on that the relax causation rules should be applied in area of civil damage compensation of securities and the inverted burden of proof should be widely carried out to protect the investors' interests.At last our supreme people's court publicized the "Some provisions of the Supreme People's Court on trying cases of civil compensation Arising from false statement in security markets", which adopted the rules of presumption of causation. However, the present causation rules still exists a lot of unresolved problems. So this article is based on the specialization of securities transaction, revolving round the reason that we apply the causation presumption, how to apply it and some related problems in civil compensation of securities from the prospective of theory and practice, which I hope to contribute to our country's judicial practices.