论独立董事行政责任之豁免——以37份证监会处罚决定为视角

On the Exemption of Administrative Liability of Independent Directors :From the Perspective of 37 Penalty Decisions of Defense Commission

我国司法实践中对于违反勤勉义务的独立董事多课以行政处罚,独立董事提出的"不知悉且未参与"或"信赖专业机构出具的报告"等诸多申辩理由均未被证监会采纳。通过考察独立董事的特殊性,合理信赖与专业知识的偏好使其承担与执行董事不同的勤勉义务。赋予独立董事合理信赖权,并引入商业判断规则,可为独立董事行政责任的豁免提供可能。

Domestic Practice in China generally imposes administrative penalties on in dependent directors who violate duty of diligence,the Defense Commission doesn＇t adopt many excuses provided by independent directors that they do not know,do not participate in and trust the report issued by many professional organizations.Through the investigation of the particularity of the independent director,the reasonable trust and the preference of the professional knowledge make it bear the different duty of diligence.The right of independent director and the introduction of the business judgment rule can provide the possibility for the exemption of administrative liability of independent directors.