证券民事责任初探

An approach to the civil liability of securities

基于我国法律对证券民事责任规定的欠缺以及证券民事责任的独特性,追究证券民事责任不仅要考虑到请求权人具有流动性和难以确定性的客观事实,而且应认识到证券民事责任实质上是一种部分与契约责任竞合的侵权责任,对不同的责任主体应采用不同的归责原则,必须预置多样化的损害赔偿计算方法以及独特的诉讼机制,明确承担证券民事责任的特定方式,确立证券民事赔偿责任的优先效力,力求公平和效率的双赢。

Owing to the shortage of legislation relating to the civil liability of securities in China and the distinctiveness of the civil liability of securities, both the objective fact that the claimant is of mobility and uncertainly and the nature of the security civil liability which is partly concurrent liability for tort should be considered in order to ascertain the civil liability of securities. Furthermore, aiming at the W-win of the equity and the efficiency, we should exercise different doctrines of liability fixation to different persons liable, prefabricate multiform calculation ways of compensation for damages and particular action systems at law, and establish the priority force of the security compensation for damages.