On The Perfection Of The Model Judgment Mechanism For Securities Disputes In My Country

With the development of the modern market economy and the continuous development of the market after China's entry into the WTO,there has been an increasing number of group securities disputes.Under such circumstances,the diversity and professionalism of group securities disputes,as well as the diversity of personnel involved,have gradually revealed the roughness of the representative litigation system.How to resolve group securities disputes fairly and economically and protect investors The issue of equity is on the agenda.After an in-depth analysis of extraterritorial experience,combined with China's actual conditions,the legislative department formulated a model judgment model for securities disputes in January 2019.Based on this,this article begins with an introduction to the characteristics of group securities disputes and the difficulties of the representative litigation system currently adopted in China.As well as the relationship between the old and new systems,issues that need to be addressed in the model judgment mechanism are raised.In view of the fact that the litigation system in the field of extraterritorial group securities disputes started earlier than China,we have accumulated certain experience.I will compare the different litigation models adopted in the field of group securities disputes in extraterritorial countries(regions),and analyzes the lessons that can be used to improve China's securities dispute model judgment mechanism.Finally,on the basis of China 's actual situation and the study of related extraterritorial systems,some ideas and suggestions for improving China 's securities dispute model judgment mechanism are further proposed.In addition to the introduction and conclusion,this article is divided into four parts:The first chapter analyzes the model judgment model of securities disputes in China.The first section introduces the definition and characteristics of group securities disputes,and clarifies their differences from ordinary group disputes.The second section analyzes the predicament and reasons of the representative litigation system as the main way to resolve group securities disputes,and pave the way for the third section.The third section introduces the connotation and characteristics of the new system,and conducts an in-depth analysis of the relationship between it and the representative litigation system to better understand the mode of its operation.The second chapter mainly analyzes the problems that still need to be resolved in the securities dispute model judgment mechanism.Starting from two aspects,they are the issue of pre-procedures in the field of securities disputes and the lack of motivation for investors.The first section analyzes the origin and problems of the pre-procedure regulations in the field of securities disputes.The second section analyzes the investor's lack of litigation motivation,and mainly conducts detailed demonstrations in terms of the plaintiff's litigation benefits being less than the litigation costs,and the model judgment of the plaintiff's adversarial imbalance.The third chapter will start with the relevant systems for handling mass securities disputes in the United States,Germany,and Chinese Taiwan,and mainly focus on the US group litigation system,the German model litigation system,and the Chinese Taiwan group litigation system.The author will review the relevant literature,explain the core content and characteristics of the three,compare and analyze the three in terms of res judicata and efficiency of litigation,and find out where the three systems can be used for reference in China's securities dispute model judgment mechanism.The fourth chapter focuses on the idea of improving the model judgment model for securities disputes in China.According to the issues raised in Chapter 2,we start with two aspects: gradually solving the issues of pre-procedures in the field of securities disputes and enhancing the motivation of investors.Combining the extraterritorial experiences that are in line with China 's basic national conditions and analyzed in Chapter 3 In order to improve China's current model of securities dispute model judgment and make it better fit with the representative litigation system to achieve the original intention of legislation,provide some ideas and suggestions.