Due to the insufficient supply of legal system,securities representative litigation has been in a silent state for a long time in our country.Individual litigation and joint litigation hinder the realization of the scale economy of securities litigation,which is not conducive to investors'litigating and safeguarding their rights,so it is necessary to build a cheaper and more efficient group litigation mechanism.The new Securities Law,on the basis of arousing the ordinary representative action of express accession,creates the special representative action system of express withdrawal.In the application proce-dure,the"withdrawal system"is embedded in the"accession system"and adopts the single-track double-line progres-sive mode.On the mechanism of advance and retreat,implied members to join the group to reduce litigation costs and alle-viate the dilemma of collective action;In the main body,the insurance institution is innovatively introduced as the litigation representative to improve the efficiency and benefit of litigation.However,there are some problems in the existing securities special representative litigation,such as unclear procedural requirements,insufficient secondary exit protection and unclear authority of insurance institutions.In order to give full play to the unique advantages of this new system,it is necessary to clarify the requirements of litigation progression to promote the smooth start of the procedure;At the same time,investors are given the right to withdraw twice to maximize the rights and interests of investors;Finally,delineate the boundary of the authority and responsibility of insurance institutions,and carry out appropriate supervision and restriction on them.
万方数据
维普
