关键词: 证券公益诉讼, 私人救济, 公共执法, 督促履职, 惩罚性赔偿

Abstract: The violations in the securities field have the dual consequences of harming both the public interests and the private interests, the appearance of public interest litigation on securities can make up for the defects of the existing “private relief” and the governance path of “public law enforcement”. However, being short of legal provisions and juridical practice, it remains to be explored as whether or how to carry out institutional construction for the public interest litigation on securities. In order to comprehensively solve the problem of damaging the public interest on securities and safeguarding the public interests in a timely way, the two kinds of public interest litigation systems on securities should be completely established for civil and administrative lawsuits. The institutional differences should be distinguished so as to accurately set the litigation subjects, applicable conditions, litigation requirements, etc. of the two types of litigation. At the same time, we should strengthen the effective connection and interactive cooperation between the public interest litigation on securities and the private relief or the public power supervision, so as to practically promote the protection of public interests in the securities markets, urging the securities supervision departments to perform their duties according to law, and maintain the healthy development of the securities markets.

Key words: public interest litigation of securities, private relief, public law enforcement, supervising the performance of duties, punitive damages.