证券纠纷特别代表人诉讼制度完善之法律思考

Legal Thoughts on the Perfection of the Special Representative Litigation System in Securities Disputes

2020年7月23日,最高人民法院审判委员会第1808次会议通过的《最高人民法院关于证券纠纷代表人诉讼若干问题的规定》中将"特别代表人诉讼"以专章规定列出,引发各界的广泛关注。近年来证券纠纷问题层出不穷。例如案件甄别及程序决定混乱、投资者保护机构权力扩大、"一案一立、分别审理"观念根深蒂固等等。文章建议支持扩大人民法院庭前审查的项目类型和内容;引入"投资者代表",以"双保险"模式维护投资者权益,同时允许投资者进行"二次推选"代表人;个案认定应本山取土、因地制宜,针对差异选择适用一案一立、普通代表人诉讼制度和特别代表人诉讼制度中的一种或数种。

"Special Representative Litigation"is listed in a special chapter of the Supreme People's Court Provisions on certain issues in representative litigation in securities disputes,adopted by the Supreme People's Court at its 1808th meeting on July 23rd,2020,which has aroused wide attention from all walks of life.In recent years,securities disputes emerge in an endless stream,for example,the confusion of case identification and procedure decision,the expansion of the power of investor protection agency,the deep-rooted concept of"case by case,trial separately",and so on.This article supports the expansion of the People's Court pre-trial review of the type and content of the project,introduces the"investor representative"to protect the investors'rights and interests with the"double insurance"mode,and allows investors to select the"re-elect"representative.The case should be determined according to the local conditions,and one or more of the Common Representative Litigation System and the Special Representative litigation system should be applied to different cases.