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Research On The Legal Issues Of The Judicial System Of Cross-border Securities Disputes In My Country

Posted on:2021-03-25Degree:MasterType:Thesis
Country:ChinaCandidate:X Z FangFull Text:PDF
GTID:2516306302978439Subject:Law
Abstract/Summary:PDF Full Text Request
Article 2 of the latest revised version of the securities law of the People's Republic of China issued on December 29,2019 stipulates that "in case of securities issuance and trading activities outside the People's Republic of China,disturbing the market order within the territory of the People's Republic of China and damaging the legitimate rights and interests of domestic investors,they shall be dealt with in accordance with the relevant provisions of this Law and investigated for legal responsibility",and the extraterritorial application provisions of the Securities Law shall be introduced for the first time For the first time,the judicial disputes caused by cross-border securities behaviors have attracted the attention of legislators.Under such policy background and legislative trend,it is urgent to study the jurisdiction,legal applicability and jurisdiction competition caused by cross-border securities disputes.At the same time,on March 30,2018,China Securities Regulatory Commission issued several opinions on the pilot of domestic issuance of shares or depository receipts by innovative enterprises,providing a practical legal way for overseas issuers to directly issue securities in China.How to define the jurisdiction and the application of law for the disputes arising from the issuance of securities by overseas issuers in China is also a problem that needs to be clearly solved in the legal system of cross-border securities jurisdiction in China.Therefore,this paper will start from three aspects of jurisdiction rules,applicable rules and jurisdiction competition measures of cross-border securities litigation to study the shortcomings of the current cross-border securities jurisdiction legal system in China,and give some suggestions.The first chapter is divided into three parts.The first part is to analyze the existing legislative rules and judicial practice.On the one hand,it aims to summarize the specific provisions of the jurisdiction rules and the applicable rules of law in China,and analyze the deficiencies in the existing rules from the normative level;on the other hand,it aims to explore whether the deficiencies in the normative level are fully reflected in the practice by analyzing the judicial practice.Due to the small number of cross-border securities litigation cases,this paper focuses on the analysis of typical cases to discuss the existing problems.On the basis of the first part,the second part sums up the problems existing in the jurisdiction rules,the applicable rules and the competition measures of jurisdiction in the jurisdiction legal system of China's border securities,including:(1)the jurisdiction of cross-border securities litigation has a "blank area";(2)the application of cross-border securities litigation lacks a unified and clear standard;(3)cross-border securities litigation The competitiveness of the jurisdiction of securities litigation is insufficient.The third part focuses on the necessity of improving the jurisdiction legal system of cross-border securities disputes in China from two aspects: rule filling and system competition.The second chapter is divided into three parts.The first part is to clarify the international jurisdiction of cross-border securities litigation in China,mainly to solve the problem that the international jurisdiction of cross-border securities litigation in China is not clear under the existing legislative rules.On this issue,this paper points out that the main significance of making clear the international jurisdiction is to make the courts of our country have legal legitimacy when they are in charge of cross-border securities litigation and participating in the international jurisdiction competition,so that the cross-border securities jurisdiction rules of our country have stronger predictability to a certain extent.In addition,this part also discusses the relationship between long arm jurisdiction and international jurisdiction.It is clear that the establishment of international jurisdiction does not mean the abuse of long arm jurisdiction rules to infringe the judicial interests of other countries,and there is no serious value and legal conflict between the two.The second part is the core content of this chapter,which proposes a reasonable way to expand the jurisdiction connection point of cross-border securities litigation to solve the problem that the existing cross-border securities jurisdiction is too small in China.In this part,this paper focuses on the location of the subject matter,the place of the infringement of the two nodes to further refine the provisions of the proposal,including the location of the securities to expand the interpretation of the standards,the standards of the place of the infringement of the "act" and "result" of the double standards.The third part mainly discusses the establishment of the rationality standard of cross-border securities litigation jurisdiction,mainly through the establishment of the rationality standard to clarify which kind of cases have a "joint force connection" with the jurisdiction of our country,to prevent the judicial resource tension caused by the unreasonable expansion of jurisdiction and the violation of the principle of international comity.The third chapter is divided into two parts.The first part is about the reform of the existing legal application rules.In this part,firstly,this paper establishes the transformation direction and principle of the rule of law application in theory,and holds that the rule of law application should not be legislated separately from the jurisdiction standard,but should establish the rule of applicable law according to the connection point of the jurisdiction cases,and should try to ensure the priority application of the securities law in the jurisdiction cases.On this basis,this paper puts forward the corresponding legal application rules for the cases based on different jurisdiction standards,such as how to reform the legal application rules in the cases based on the standards of securities location or tort location.The second part discusses other negative factors that affect the rules of law application,points out that the "inconvenient court" rules and the "race to the bottom" effect in the system competition will weaken the effectiveness of the rules of law application,and puts forward corresponding countermeasures.The fourth chapter is divided into two parts.The first part is to study the Jurisdictional Competition between Europe and the United States,and point out the necessity of our country to participate in the Jurisdictional Competition and improve the jurisdictional competitiveness,and to analyze the Jurisdictional Competition measures of the Netherlands and then refine the main factors that affect the cross-border Jurisdictional Competition of securities litigation.The second part is based on the first part,combined with the existing securities judicial system in China,to improve the attractiveness of cross-border securities jurisdiction in China.
Keywords/Search Tags:Cross-border Security Litigation, Jurisdictional Rules, Rules for Applicable Law, Jurisdictional Compeition
PDF Full Text Request
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