Old Wines in New Bottles? Private Securities Litigation in China’s New Securities Law

4区 计算机科学 Q1 Computer Science
Ding Chen
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引用次数: 0

Abstract

Private securities litigation has been very weak since the establishment of China’s stock market some 30 years ago. A new law on securities took effect in March 2020 and introduces some reformist changes to this area. This article will examine the likely effect of the new Securities Law on this form of litigation. In particular, it will examine China’s most celebrated ‘quasi-class action’ system, i.e. Special Representative Litigation. This procedure is borrowed from Taiwan’s non-profit organization model. The essay argues that, since the new Securities Law has made only limited efforts in addressing the primary reason for the weak private securities litigation, namely, lack of judicial independence, it is unlikely to make any significant changes to private securities litigation in China.
新瓶装陈酒?新《证券法》中的私人证券诉讼
自30多年前中国股市建立以来,私人证券诉讼一直非常薄弱。新的证券法于2020年3月生效,并对该领域进行了一些改革。本文将探讨新《证券法》对这种诉讼形式可能产生的影响。特别地,它将研究中国最著名的“准集体诉讼”制度,即特别代表诉讼。这一程序借鉴了台湾的非营利组织模式。本文认为,由于新《证券法》在解决私人证券诉讼薄弱的主要原因即司法独立性不足方面所做的努力有限,因此不太可能对中国的私人证券诉讼产生重大变化。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Advances in Computers
Advances in Computers 工程技术-计算机:软件工程
CiteScore
5.40
自引率
0.00%
发文量
58
审稿时长
>12 weeks
期刊介绍: Since its first volume in 1960, Advances in Computers has presented detailed coverage of innovations in computer hardware, software, theory, design, and applications. It has also provided contributors with a medium in which they can explore their subjects in greater depth and breadth than journal articles usually allow. As a result, many articles have become standard references that continue to be of significant, lasting value in this rapidly expanding field.
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