试论我国证券侵权救济的群体诉讼模式选择

On the Selection of Group Action Mode in Securities Tort Relief in China

各国证券侵权救济的诉讼制度存在很大差异,我国证券侵权群体诉讼模式的选择与构建,要高度重视本土资源的挖掘和利用。我国立法规定的人数不确定代表人诉讼制度在设计理念方面符合现代群体纠纷的解决理念和要求,该制度未能在证券侵权诉讼中得到适用,是由于司法政策的限制,而非其在技术层面存在不可克服的障碍。我国的人数不确定代表人诉讼与共同诉讼存在根本差别,与美国集团诉讼在价值追求上具有相似性,兼顾了各方利益需求,是我国证券侵权群体诉讼的合理模式,但在具体规则上还需要加以完善。

There are great discrepancies about action system in securities tort relief among different countries. To select and construct group action mode in securities tort in China,we should pay weve attention on the tapping and using of native resources. The representative action system with undetermined number of plaintiffs in China's legislation meets the solution and demand of modern group disputes in the concept of design. The reason why the system is not applied in securities tort action is the restriction of judicial policy,but not the unconquered barriers is technical. Differing from concurrent action fundamentally,but similar to class action in the United States in value pursuit,the representative action system with undetermined number of plaintiffs in China balances the interests of the parties,and is a reasonable mode for group action in securities tort in China,whose specific rules need to be perfected nevertheless.