The Basic Structure And Operating Results About The Taiwan "Insurance Law"

April 24,2015, the Standing Committee of the National People’s Congress released a "Securities Law (Revised Draft)", which refers to protecting the investors, especially to the middle small investors, this will be the revision of the "Securities Law" an important guiding ideology. According to the draft, the new "Securities Law" will protect the investors from two aspects:first, the establishment of investor protection fund system; second, establishing the civil liability for damages investor, the issuer of securities and the perform the sponsor duties of securities companies, acquisition of listed companies, controlling shareholders fault causes losses to investors and need liable for damages in accordance with the provisions,the market manipulation, fraud and other customer behavior causes losses to investors, also want to assume liability to pay compensation. However, only to setting up a special chapter in the securities law in order to protect investors is not enough, the securities investor protection should be an important part of the system of investor protection, and should become a system. Under the background of "Securities Law" revision, the securities investor protection has received unprecedented attention, which is also an opportunity to improve the protection system of investors’ rights and interests in China. Based on this, in reference to the "insurance law" of Taiwan, the securities investor protection system not only to improve the legal system of securities investor protection,but also strengthen the legal goal to protect the rights and interests of investors, the "Securities Law" as a method of protection of the investors.This paper starts from the analysis of the theoretical of the protection of the rights and interests of Taiwan stock, investors of analysis framework of the current system of investor protection laws, and the practical operation data of evidence, and strive to on this basis for the construction of a system of investor protection in our country puts forward appropriate recommendations. Taiwan investor protection legal system is based on the relevant laws of the United States, the integration of local realities, the establishment of the protection system in line with the local characteristics of Taiwan. 2002 promulgated the "securities investors and futures trading protection law", the purpose of the establishment of the law is to protect investors in Securities and futures traders and other objective is only incidental protect investors "benefits". In accordance with the provisions of this law, the establishment of the legal person securities investors and futures trading center, which is the center. In the center of the insured as the executing agency, the legal investor protection functions, is established to insure the center based and the investor protection fund to support, to civil dispute mediation system, group litigation and representative litigation settlement any litigation is one of the relief system. This set of relief system to protect the rights and interests of investors, but also to become an important barrier for the development of the securities market and futures market.On the basis of the Taiwan experience for reference, this paper argues that in order to construct the legal system of investor protection, which should start from the legislative principle, clearly define the scope of protection of investors, and to revise and improve relevant laws, but also should build perfect and operation system of investor protection. Investor protection system improvement should be the established as a legal principle, and the principle of the law should be throughout the investor protection legislation, administrative and judicial process, only investors protection become general and universally principles of law, investor protection legal system only robust as possible. Clearly defining the scope of investors, there are many investors in the capital market, the stock market investors have a lot of classification, clear all kinds of laws to protect the target, in order to specific issues specific analysis. At present, the legal existence of investor protection is a serious absence, with the times to improve the existing laws and the relevant laws are the primary work, the blank area of the operation of the law is a long-term task. The protection of investors need to have specific executable system to implement, China’s current investor protection fund system from the duties to the function has been completely alienated, we need to establish the investor standard fund system, we also need the trend of group litigation system which needs to build a perfect system of group litigation system that has been in the absence of the state in China. The "Securities Law" (Draft) proposed to build the system, this is an opportunity to improve the system on the basis of the experience of the foreign countries; mediation system is Taiwan set up suitable development system on the basis of United States and Germany experience,which give us very important significance, we learn from Taiwan the experience on the construction of mediation system, the mediation system of our securities market, it can not only improve the legal system of investor protection,but also can make up for the lack of group action, reduce the burden of litigation, be able to combine with the protection fund system, so that the system of investor protection has become an organic integration of the system.