完善法制 重在实效——《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》评析

Practical Results Should Be Highly Emphasized in Improving Legality ——On Several Regulations about Trials of Civil Compensation Cases of Securities Market Caused by False Statement

在证券市场发展过程中,存在违规操作、侵害投资者合法权益的现象。为保护中小投资者的利益,最高人民法院公布施行了《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》。这个规定对我国证券市场稳步发展将产生重大影响。但它还有一些不成熟的地方需要完善。例如,要明确、细化、调整、规范相关概念;要切实贯彻维权精神,强化维权效果,完善司法解释使其更具操作性等。否则,真正切实保护投资者特别是中小投资者的合法利益将成为一句空话。

During the development of securities market, there exist operations by violating regulations and trespassing investors legitimate benefits. In order to protect those middle and small investors benefits, the supreme court published Several Regulations about Trials of Civil Compensation Cases of Securities Market Caused by False Statement. This regulation will have a great effect on the steady development of our securities market. However, it still needs to be perfected. For instance, relevant concepts need to be specified, partitioned, adjusted and regulated; maintenance of rights should be actually carried out, the results should be strengthened and judicial interpretation should be improved to be more operative. Otherwise, it will be just nonsense to actually protect the legitimate benefits of investors, esp., the middle and small ones.