Improvement of the Mediation Mechanism of the Investment Service Center Participating in the Special Representative Litigation:Taking the Essence Information Technology Co.,Ltd.Case as an Example
The Essence Information Technology Co.,Ltd.case is the first special representative litigation case in-volving a company listed on the Science and Technology Innovation Board(STB)in China,and also the first case of securities class action settlement in China.In this case,the Investment Service Center(ISC)participated in the litiga-tion mediation in the capacity of a special representative,which has strong professionalism and deterrent effect,and can effectively reduce the cost of investors.At the same time,the case also made an analysis of the complex relation-ship between"investor protection"and"maintenance of market stability","litigation efficiency"and"litigation repr-esentativeness",as well as the relationship between"investor protection"and"market stability".At the same time,the case also effectively balanced the complex relationship between"protection of investors"and"maintenance of mar-ket stability","litigation efficiency"and"litigation representativeness",releasing the signal of building a good busi-ness environment.However,ISC also faces legal difficulties when participating in class action mediation,including i-dentity conflicts under the mandatory mediation system and the lack of clear guidelines on the operation and supervision of mediation.In order to improve the legal system of investment service center's participation in securities special repre-sentative litigation mediation,it is necessary to further clarify the identity and positioning of the investment service cen-ter,improve the mediation operation rules,optimize the supervision rules,and establish the competition mechanism and incentive mechanism.
Investment Service CenterSpecial Representative LitigationLitigation MediationEssence Infor-mation Technology Co.,Ltd.CaseInvestor Protection
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