Study On Civil Liability Problem Of The Stock Market “Black Mouth”

Stock market “black mouth” is the macronosia in the securities market,which has been cracked down by administrative supervision department all the time.At the same time its illegal behavior often violate the legitimate rights and interests of small and medium-sized investors,but the civil liability of the stock market "black mouth" has been hard to get.So the author takes the civil liability problem of stock market “black mouth” as the research object,and takes the “discovery question-analysis question-research question” as the thought structure.The author studies and analyzes the current situation of legislation and judicature of the “black mouth” civil liability system in the stock market,so as to put forward the existing problems and put forward the corresponding suggestions for improvement on this basis.The first chapter is the introduction to confirm the clues and reasons of this topic.The second chapter studies the basic problems of “black mouth” civil liability in the stock market,analyzes the concept,development history,causes and legal nature of “black mouth” in the stock market,and the concept,nature,function and constitutive elements of “black mouth” civil liability in the stock market.The third chapter,the author studies the present situation of legislation and judicature and finds out the existing problem.By collecting the legislation of the stock market “black mouth”,the author sorts,compares and analyzes the characteristics and disadvantages of relevant laws,administrative regulations and departmental rules,along with past stock market “black mouth” cases of relief,acceptance,judgment and punishment,and so on and so forth.Through the analysis of the current situation,this paper summarizes the problems of the “black mouth” civil liability system in the stock market,such as the lack of legislation,the lack of protection mechanism for investors' rights,the low operability of judicial practice,and the lack of relevant supporting systems.The fourth chapter,in view of the above mentioned problems,the author expounds the necessity of improving the civil liability system in the stock market “black mouth”,and analyzes the causes of the problems.For the stock market “black mouth” civil liability system is not strong operability,the author suggests to expand the scope of civil cases,reasonable allocation of burden of proof,improve the causal relationship recognition mechanism and other aspects to improve;For the improvement of the supporting system,the author suggests to improve the litigation mode and dispute resolution mechanism.The article creatively defines the stock market “black mouth” behavior as securities tort,and then divides the stock market “black mouth” behavior into three categories according to the different tort subjects and tort patterns,and conducts a qualitative analysis of the stock market “black mouth” civil liability,which is the theoretical innovation of the article.In addition,it is also one of the innovations of this paper to take empirical data as the research basis with collecting a large number of data cases for statistics,comparison and analysis in the current research and analysis.In terms of improving opinions,it is closely combined with judicial practice,and it is an important basis for the feasibility of improving opinions to refer to relevant experience of other securities civil compensation cases.Finally,the author summarizes the improvement suggestions,improvement direction of future legislation and judicature in the stock market “black mouth” civil liability system.