论证券民事责任制度的完善——评《最高人民法院关于审理证券市场因虚假陈述引发的民事赔偿案件的若干规定》

Remark on Improvements of the Civil Security Liability System

《最高人民法院关于审理证券市场因虚假陈述引发的民事赔偿案件的若干规定》中有些规定不合理。应将虚假陈述民事责任人范围扩及专业中介中服务机构的直接责任人、证券监管机构及其直接责任人。行政处罚决定和人民法院的刑事裁判不应作为人民法院受理有关民事赔偿案件的前置奈件。利空的虚假陈述也会导致投资者的损失。在证券发行市场虚假陈述的赔偿范围应扩及相关费用。

Drawbacks occur in ' Several Stipulations Concerning the Trial of Civil Compensation Cases Owing to False Statements in the Security Market' issued by the Supreme People s Court. The civil people responsible for the false statements should include the medium service organizations, the security - supervising departments and the directly responsible individuals. Administrative punishments and criminal adjudication should not be the conditions for people s court to hear civil compensation cases. False statements fit to the short position will bring about the loss of the investors. Thus, relevant fees should be covered in the compensation for false statements in the market.