Study On The Pre-litigation Procedure For Damage Compensation Of Securities False Statement

The pre-procedure of civil damages prosecution for false statement of securities is a kind of prosecution rule for the case of tort damages caused by the false statement behavior occurring in the securities market,that is,the false statement of securities must go through criminal adjudication or administrative punishment before the initiation of such cases.This rule is formally established in the Supreme People’s Court on the trial of several provisions of civil compensation cases arising from false statements in the securities market(interpretation[2003]2).The establishment of the pre-procedure rule raises the core issue of the impact on the prosecution of civil compensation cases arising from false statements of securities.This paper studies the specific influence of this pre-procedure on the acceptance of prosecution in such cases and analyzes its causes,and puts forward some suggestions for perfecting the pre-processing procedure on the topic of "the study on the pre-procedure of securities false statement damages.In addition to the introduction and conclusion,this paper is divided into three parts:The first part discusses the rule connotation of the pre-procedure of securities false statement damage compensation prosecution,and expounds its causes and institutional purposes.The essence of the preposition procedure is to establish a rules of prosecution,which require that the provisions of the Civil Procedure Law on the conditions of prosecution not only be met at the time of prosecution but also meet the requirements of the preposition procedure.The establishment of such a rule is both a consideration of institutional objectives and a need for reality.The second part explores the existing problems through the investigation of the current operation status of the preposition program.In the actual operation,although the pre-program has played the role of maintaining the stability of the securities market and improving the payment rate,it has also led to the low prosecution rate of such cases,increased litigation costs,limited exercise of the right of action of the injured subject,and the uncertainty of whether payment can be obtained.The third part unfolds the theoretical level analysis to the general problem caused by the preposition program.The essence of the preposition procedure is to stand on the specific right of action,set up,when the establishment of the Securities civil litigation role and the pre-procedure as the mandatory application of the procedure leading to the exercise of thedamaged subject’s right of appeal is limited;the function of the right of appeal is not in place,does not conform to the development trend of litigation It leads to the inconsistency between the pre-procedure and the concept of the protection of the right of action,and the mixing of the elements of litigation and the conditions of prosecution in China,and the overreach of judicial interpretation,make such prosecutions more difficult Although there is a registration system,such cases still have to follow the pre-procedure and may still not be able to enter the proceedings,thus not reducing the difficulty of prosecution in such cases;the two types of instruments required in the preceding procedure do not make a detailed distinction and have questionable validity,resulting in difficulties in the application of these two types of instruments in proceedings in such cases.The fourth part puts forward some suggestions for perfecting the problems existing in the preposition procedure.Perfecting the pre-procedure should strengthen the understanding and understanding of the right of action,correctly treat the role of securities civil litigation,reduce the litigation cost of the damaged subject on the basis of following the benefit and free value of economic law,set up the civil prosecution condition strictly according to law,make clear the category and effect of the instrument in the pre-procedure,Expand the scope of the instrument required by the pre-procedure and change the mandatory application of the predecessor procedure to opt-in.Through these ways to perfect the pre-procedure,to ensure the exercise of the damaged subject,timely relief of its damaged rights and interests.