台湾地区证券虚假陈述民事责任制度研究  

Research on the Civil Liability of Securities Misrepresentation in Taiwan District

作　　者：齐萌 徐承志 Qi Meng;Xu Cheng-zhi

机构地区：[1]上海政法学院国际法学院,上海201701 [2]上海财经大学法学院,上海200127

出　　处：《亚太经济》2022年第5期146-152,共7页Asia-Pacific Economic Review

基　　金：国家社科基金项目“公司债券违约市场化处置机制研究”(19BFX154)。

摘　　要：打击证券市场虚假陈述,追究违法主体民事责任,是维护证券市场信息披露制度、保护投资者合法权益的重要内容之一。康美药业虚假陈述案发生以来,理论界及实务界对此高度重视,积极探讨完善监管制度,以加强对违法行为的惩戒。台湾地区证券市场对于打击虚假陈述、追究民事责任已有多年实践,其中过错认定规则和配套团体诉讼等安排较具特色,中国大陆可借鉴相关经验,完善过错认定规则及促进中小投资者利用代表人诉讼制度维护其合法权益。Crack down on misrepresentations and pursue civil liability of offenders is one of the important contents of maintaining the perfect information disclosure system in the securities market and protecting the legitimate rights and interests of investors. Since the occurrence of the misrepresentations of Kangmei Pharmaceutical, the theoretical and practical circles have attached great importance to it, and actively discuss improving the supervision system and strengthening the punishment of illegal acts. Across the strait, the securities market in Taiwan Region has had many years of practice in cracking down on misrepresentations and pursuing civil liability. At this stage, Taiwan Region’s regulations on the scope of civil liability subjects for misrepresentation and the degree of responsibility of audit institutions have attracted some criticism, but the regulations on whether the insiders are at fault and the supporting civil compensation class action mechanism reflect a certain rationality. China’s mainland can learn from relevant experience, improve fault identification rules and promote small and medium investors to use the representative litigation system to protect their legitimate rights and interests.

关 键 词：台湾地区 虚假陈述 团体诉讼 证券市场 

分 类 号：F830.91[经济管理—金融学]