Improve The Sponsor’s Civil Liability System Of China

The sponsor ’s civil liability system of the maturity and perfection of the securitiesmarket is an urgent need for the parties to the legitimate interests of effective protection, andplay a normative preconditions on the application of civil liability system of our country to bein the securities market. In this paper, from the perspective of civil law, conducts the researchto the sponsor ’s civil liability system, in understanding the basis of civil liability on the basictheory, the reflection on the status quo of civil liability of sponsor ’s civil, summed up the civilliability with the defect and shortage of the implementation mechanism identification systemdesign, reference to domestic and foreign successful for the present, and related elements oflitigation system of civil responsibility system improvement suggestions of sponsorship inchina. Mainly through three parts to be discussed:The first part is the basic theory of civil liability. This part elaborated the connotationand legal characteristics of civil liability, using the method of comparative analysis of thecontract liability sponsor issuer and investor tort liability two different responsibilities,combined with practical experience, summarizes the positive significance of civil liability.The second part is the civil liability system of defect analysis. One focus of this part isalso this article, starting from the determination of civil liability, mainly to identify factors-responsibility, liability limit, liability principle and exemptions analysis and discussion,summed up the existing deficiencies in the sponsor’s civil liability system.The third part is the civil liability of the plight of implementation mechanism. Blockingthis part the limitations and prepositional procedure of civil liability, the absence of privatelitigation on sanctions were critical, summed up the civil liability of the sponsor’s civilliability litigation system implementation obstacles.The fourth part is the sponsor ’s civil liability system improvement suggestions. This partbased on the above elements from the sponsor ’s civil liability and civil liability of the sponsortwo aspects puts forward some suggestions to perfect litigation system.