The Study On Civil Liability For Market Manipulation:a Comparative Law Perspective

Stock market manipulation acts as a kind of important types of securities tort, for the healthy development of the securities market have caused great harm. Stock market manipulation acts as a kind of tort, is the damage to the investors, the pursuit of illegal civil liability obtains compensation should be civil liability, filling in for market manipulation and damaged the interests of investors have an irreplaceable role, in the field of securities civil liability, is more deterrence, so to further improve the development of our country for market manipulation civil liability of legal regulation has important significance. This article from the securities civil liability and the operation of stock market behavior of basic theories, aims at a comparative perspective, the internationalization of securities market background, through to the United States, the European Union, Japan and other countries and regions of the relevant legislation theory comparative study on Chinese stock market manipulation civil liability system to further improve, get rid of the current situation of low operation suggestion.The article is divided into four parts.The first part of the securities civil liability concept are introduced, the civil liability of security features and properties were discussed, addressing what is the basic problem of securities civil liability.The second part of the manipulation of the securities market behavior definition, characteristics are summarized, and then discuss the manipulation of the securities market behavior harm, so that to establish and perfect the market manipulation civil liability system is of great significance and necessity.The third part introduces the United States, European Union, Japan, China and other countries or regions for the manipulation of the securities market civil liability legislation status. In the view of comparative law, in these countries or area of market manipulation civil liability, causation, subject and object, way of behavior, litigation and other aspects of in-depth, comprehensive discussion and research. The fourth part of a comprehensive discussion of the preceding chapters, and points out that China stock market manipulation behavior and civil liability system deficiencies, and to the perfection of Chinese stock market manipulation behavior and civil liability system and put forward the author’s suggestion, for Chinese stock market manipulation civil liability system to further improve, get rid of low operability status make contribution.