节制资本思维:证券检察民事公益诉讼路径构建  

Capital Control Thinking:Constructing the Path of Securities Prosecutorial Civil Public Interest Litigation

作　　者：宋伟锋 刘清洋 晁岱涛 赵玉洁[3] SONG Weifeng;LIU Qingyang;CHAO Daitao;ZHAO Yujie(Northwest University of Political Science and Law,Xi'an 710063,China;People's Procuratorate of Xinjiang Uygur Autonomous Region,Urumqi 830002,China;Northwest University,Xi'an 710127,China)

机构地区：[1]西北政法大学,陕西西安710063 [2]新疆维吾尔自治区人民检察院,新疆乌鲁木齐830002 [3]西北大学,陕西西安710127

出　　处：《新疆财经大学学报》2024年第2期72-80,共9页Journal of Xinjiang University of Finance & Economics

基　　金：最高人民检察院检察理论研究重点课题“检察机关服务保障平安中国建设研究”(GJ2021B03);新疆维吾尔自治区人民检察院检察理论研究一般课题“监检视阈下刑事合规的系统化构建”(XJ2023B064)。

摘　　要：全国首例证券集体诉讼案“康美药业案”折射出新《证券法》第九十五条规定的证券特别代表人诉讼制度的实践困境——对证券中小投资者的保护不足。证券中小投资者合法权益受损会打击投资者信心,增大企业融资难度,影响资本市场发展。基于此,节制资本思维成为证券中小投资者权益保障的底层逻辑,“实践—制度—理论”成为证券中小投资者检察民事公益诉讼的正当性逻辑。今后应以节制资本思维为基础,构建以证券检察民事公益诉讼主体二元化、投资者“默示加入、明示退出”诉讼原则、科学设置损害赔偿金的计算及分配方式、降低投资者诉讼成本、拓展检察机关派驻证监机关检察机构职能为框架的证券检察民事公益诉讼路径。The inaugural nationwide securities class action lawsuit,known as the"Kangmei Pharmaceutical Case",high-lights the practical challenges inherent in the special representative litigation system for securities,as outlined in Article 95 of the revised Securities Law—a deficiency in safeguarding the interests of minor and medium-sized securities investors.The damage to the legitimate rights and interests of small and medium-sized securities investors will undermine investor confidence,increase the difficulty of corporate financing,and affect the development of the capital market.In view of this,capital control thinking has become the bottom logic of protecting the rights and interests of small and medium securities investors,and"prac-tice-systems-theory"has become the legitimacy logic of civil public interest litigation for small and medium-sized securities in-vestors.Based on the capital control thinking,this paper establishes a civil public interest litigation path for securities prosecu-tion,which includes a binary system of the main body of securities public interest litigation,the principle of investors'"tacit ac-cession and explicit withdrawal"in litigation,scientific setting of calculation and distribution of damages,reducing litigation costs for investors,and expanding the functions of the prosecutorial agencies stationed in securities regulatory authorities.

关 键 词：节制资本 证券特别代表人诉讼 证券中小投资者 证券检察民事公益诉讼 

分 类 号：D915.1[政治法律—诉讼法学]