摘要
实践中,操纵证券市场民事侵权案件的投资者胜诉率并不高,其中既存在起诉条件过高的原因,也有主体不适格、因果关系证明困难等问题。为保护更多中小投资者的合法权益,打破这类侵权纠纷的司法困局,首先应规范化降低审查起诉标准;其次在证据审查时,针对操纵证券市场隐蔽性特点,可能损害社会公共利益等情形,可通过规范证据采纳、加大法院调查取证力度等手段。行政处罚决定书中认定的事实应当作为证据在后续操纵证券市场民事诉讼中适用,但法院仍需对行政处罚决定书进行证据三性审查;刑事判决书中记载的关于操纵证券市场行为的基本事实在后诉中可以作为免证事由。
Investors in civil tort cases of the manipulation of securities market have low win rates in practice.The reason is not only that the standard of the requirements to commence an action is too strict but also the inadequacy of the subject and the difficulty in proving causation.In order to safeguarding the rights and interests of more medium-small investors,breaking the judicial dilemma of this kind of infringement disputes,the standard of censor prosecution phase should be lowered in a normative way.Next,in the examination of evidence,stepping up efforts of the court’s evidence investigation and standardizing the admission of evidence can be used in the view of the hidden characteristics of the manipulation of securities market and damages to the public interests and other situations.The facts established by the administrative penalty shall be used as evidence in the subsequent civil litigation on the manipulation of securities market,however,the court still shall review the“three attribute”of the administrative penalty as evidence.The basic facts about the manipulation of securities market recorded in the paper of sentence can be used as grounds for exemption of evidence in subsequent litigation.
作者
罗恬漩
李纪超
LUO Tianxuan;LI Jichao
出处
《中国证券期货》
2022年第4期80-89,共10页
Securities & Futures of China
基金
2018年国家社会科学基金青年项目“司法体制综合配套改革背景下法官职业流动实证研究”(项目号:18CFX028)阶段性成果
上海市级科技重大专项-人工智能基础理论与关键核心技术(2021SHZDZX0100)
中央高校基本科研业务费专项资金资助
关键词
操纵证券市场
民事侵权
起诉条件
判决要件
Manipulation of the Securities Market
Civil Tort
the Requirements of Prosecution
the Conditions of Decision
作者简介
罗恬漩,法学博士,同济大学法学院副教授,研究方向为民事诉讼法学、司法制度;李纪超,同济大学法学院研究生,研究方向为民事诉讼法学、经济法学。
