确立与完善我国证券侵权仲裁机制的路径分析——以美国证券仲裁机制的发展为视角

Study on Improvement in China's Arbitration Mechanism for Securities Tort Dispute

证券市场上侵权法律关系具有可仲裁性,在司法不足以充分及时救济投资受损权益的情况下,应充分发挥证券仲裁的替代性优势。借鉴美国等发达资本市场证券仲裁体制及完善的路径,我国在立法中应尽快确立证券行业仲裁模式,在政府部门监管下由行业自律组织主导证券仲裁规则的制定与实施。证券行业仲裁不等于行业垄断仲裁,证券仲裁与公共仲裁之间系良性竞争关系,通过行业自律、行政监管和司法保障等措施,切实保障证券侵权仲裁的公正性,维护广大投资者的利益和证券市场的运行秩序。

It＇ s increasingly known that securities tort dispute is arbitrable. Securities arbitration system should be introduced and brought into full play for the interests of those infringed and manipulated investors especially when they are lacking effective access to judicial relief. Securities tort arbitration mechanism can be industry - directed and self regulated under the supervision of CSRC. Securities tort arbitration is not of compulsory nature and investors are entitled to the opportunity to seek other public arbitration organs for relief, even access to civil litigation according to mandatory statues. Industry self regulation, administrative supervision and appropriate judicial intervention are necessary to safeguard the justice and fairness in regard of securities arbitration, as well as good order in securities market.