The Comparative Research Of Securities Group Action Between U.S And China

The U.S. securities class action allows a large number of small claims which isheard separately to be realized, therefore, jurisprudence in each country take attentionto it. Currently, our country takes separate action, a joint action and representativeaction to solve securities group disputes. However, the representative action is seldomused. The value of this litigation have not been realized. This paper will comparerepresentative action system in china with the U.S. securities class action. Thus wecan make our representative action system better and achieve its proper value. I chosethe U.S securities class action to compare, because our representative litigation systemis based on the U.S securities class action system.. So it is common to the U.Ssecurities class action system, and they are comparable. The U.S securities classaction system is also relatively complete. By comparison, we can learn from theuseful part of U.S securities class action system, and continue to improve oursecurities group litigation system.The article is divided into four parts: in the first chapter, it is the overview of the rsecurities group litigation system. Firstly, I analyze the concept of the securities grouplitigation system, then analyze the characteristics of the securities group litigationfrom a procedural point, and analyze the value of the securities group litigation. NextI explain the reasons I chose the U.S securities class action system to compare. It includes the historical reasons and practical reasons. One reason is that ourrepresentative litigation system is established on the U.S securities class action system,so they are comparable. On the other hand, our representative action system wasseldom used, because the requirements of our representative action system are notspecific enough. The judge’s discretion is very big. The function of this system hasnot been realized. The U.S securities class action system is the most complete systemwhich is to solve the securities group dispute. By comparing the key point of the U.Ssecurities class action system. it helps improve our representative action system, and itis useful for solving the securities group disputes.In the second chapter, I compare the specific rules between the U.S securitiesclass action system. and our representative action system. firstly describe the relevantsystem in U.S, then describe the relevant system in china. On this basis, I evaluate therelevant system between them. I compare the following key rules: the scope of thecase, the jurisdiction of the court, the litigation representative, attorney and attorney’sfees, the burden of proof and notification system.In the last chapter, on the basis of comparison, I mainly describe specificrecommendations to improve our securities group action. Firstly, I analyze thenecessity of improving our securities group action. I describe the notion, when welearn from the U.S securities class action system. then make constructive comments ofimprove our securities group action from the scope of the case, the court’sjurisdiction, such as six part..