我国证券示范判决机制的生成路径

The Generating Path of China's Securities Model Judgment Mechanism

示范判决机制是一种解决群体性纠纷的重要方式。我国法院在处理证券案件中的示范判决实践,回应了平稳妥善解决证券群体性纠纷的现实需求,能够与调解等非诉机制相结合,应当将此种实践予以规范化。示范判决机制存在一定的弊端,可以考虑引入退出制集团诉讼,集团诉讼引入后示范判决机制仍有价值,且两种纠纷解决方式也可并存。在引入集团诉讼的前提下,需要明确平行案件原告在示范案件中的程序性权利。若不引入集团诉讼,则可以引导受损主体将程序性权利委托给维权组织行使,间接保护受损主体的程序性权利,并可辅以共通事实与共通的法律适用标准拘束力的单向扩张模式。

The model judgment mechanism is an important way to solve group disputes.The model judgment practice of Chinese courts in dealing with securities cases responds to the realistic demand for a stable and proper settlement of securities group disputes and can be combined with non-litigation mechanisms such as mediation.Such practices should be standardized.There are certain disadvantages to the model judgment mechanism.We can consider the introduction of an exit system class action.With the introduction,the model decision mechanism is still valuable and the two dispute settlement methods can coexist.Under the premise of introducing class action,the plaintiff's procedural rights in a parallel case need to be clarified in the model case.If there is no class action introduced,it can guide the damaged subject to entrust the procedural rights to the rights protection organization,indirectly protecting the procedural rights of the damaged subject,and can be supplemented by a one-way expansion mode of common facts and common legal application standards.