跨国证券投资法律适用规则与发展

跨国证券投资的法律适用包括证券发行与交易中的法律适用规则。各国有关证券投资的立法存在着差异与冲突,证券投资关系的准据法确定取决于对证券的定性及其适用范围的划定,大致包括证券物权关系、证券合同关系和证券股权关系三方面。其法律适用不仅针对证券发行与交易中的私法关系,也涉及证券监管中的公法关系。因此,应对证券法律关系中的具体问题进行识别,区分其中的私法与公法不同属性,而采用不同的法律适用原则。跨国证券法律适用的发展,主要反映为证券法的直接适用及其域外适用性问题,尤其体现于美国扩大其证券法域外适用的相关立法与司法实践。

The Rules and Development of Law Application for Transnational Security Investment

The law application for transnational security investment includes such rules applicable to the issuance and transaction of security. The difference and conflict of security investment legislation exist among various countries in the world. The determination of governing law applicable to security investment relations depends on the identification of security and its scope to apply, which roughly covers security property relation, security contract relation and security equity relation. Such a law applicati...